Exelon (NYSE: EXC ) reported earnings (link saves as PDF) today, beating analyst estimates on both top-line and bottom-line numbers.
First-quarter 2013 sales clocked in at $6.89 billion, 11% above analyst expectations of $6.2 billion. This quarter's results are 9.7% higher than Q4 2012, and up 47% from 2012's first quarter (before the company's Constellation merger).
On the bottom line, adjusted EPS fell 17.6% year over year to $0.70, but still managed to beat analyst estimates by $0.02.
CEO Christopher Crane pointed to solid nuclear fleet capacity, improving power prices, and increasingly large synergies from last year's merger�as reasons for Exelon's success.
Looking ahead, the utility reaffirmed its Q2 $0.50 to $0.60 guidance, as well as its 2013 $2.35 to $2.65 EPS, despite lower expected margins for its Constellation segment.
As the nation moves increasingly toward clean energy, Exelon is perfectly positioned to capitalize on having the largest nuclear fleet in North America. This strength, combined with an increased focus on balance sheet health and its recent merger with Constellation, places Exelon and its resized dividend on a short list of the top utilities. To determine if Exelon is a good long-term fit for your portfolio, you're invited to check out The Motley Fool's premium research report on the company. Simply click here now for instant access.
Top 5 Financial Companies To Buy For 2015: Woori Finance Holdings Co Ltd (WF)
Woori Finance Holdings Co., Ltd., incorporated on March 27, 2001, is a financial holding company. The Company serves over 24 million corporate and retail customers with a range of financial services, including commercial banking, credit card, capital market, international banking, wealth management and bancassurance services. The Company�� domestic network consists of more than 1,300 branches and 8,500 cash terminals. Its banking subsidiaries include Woori Bank, Kwangju Bank and Kyongnam Bank. Its non-banking subsidiaries include Woori Investment & Securities, Woori AVIVA Life Insurance, Woori CS Asset Management, Woori Financial, Woori Finance Information System, Woori F&I and Woori Private Equity.The Company established a new wholly owned subsidiary, on March 16, 2011. The new entity is mainly engaged in banking business.
The Company�� products in retail banking include Low-Carbon Green Deposit, Mommy Relief Deposit, Plus Savings Deposit, Plus Revolving Time Deposit, Solid Success Time Installment Deposit and Happy Time Installment Deposit. Mommy Relief Deposit facilitates response to locate missing children; the fingerprints of children under 10 are digitally recorded by the bank and made instantly available nationwide if the child should go missing. Plus Savings Deposit is a fixed-interest installment-based time deposit account that offers preferential rates to customers who also apply for credit card products. It also provides bonus services for special occasions and foreign travel. Plus Revolving Time Deposit is a compound-interest time deposit especially for customers who want to access their funds in under three months. Solid Success Time Installment Deposit is a time installment deposit product for business owners. It offers a sliding scale of interest rates if the customer purchases additional products, such as a retirement annuity. Happy Time Installment Deposit is a fixed-interest time installment deposit account for individuals. It also provides extra services for occasio! ns, such as weddings, overseas trips and the birth of a child.
The Company provides one-stop services to corporate clients through joint account management by Woori Bank, Woori Investment & Securities, Woori CS Asset Management and Woori Private Equity. It also carries out various sales and marketing activities to promote its products and services to domestic companies of all sizes. The Company supports small and medium-sized enterprise (SME). In addition to financial products, it also provides professional consulting services. Woori Bank ahs developed the Woori Robot Era Loan and Woori Green Solar Loan. To help family-owned businesses, Woori Bank operates the Woori Family Business Succession Consulting program.
Woori Bank has an investment banking firm in Hong Kong. Woori Financial Group acts as a developer of client specific derivatives. Woori Bank acts as a dealer in overseas index products, including NIKKEI and HSCEI-indexed derivatives. The Bank also sells comForex, combining F/X and spot transactions. As of December 31, 2009, the Company had 9.3 million cardholders. Woori Financial Group provides its private banking clients with financial solutions. Woori Bank has consulting centers for private banking customers, which offers advice on taxes, real estate, asset management, overseas investments and financing solutions for emigrants and students studying abroad.
The Company provides wealth management solutions for its customers. Octo is the name of Woori Investment & Securities wealth management service for high-networth individuals. Octo customers can use a single platform to buy and sell equity-linked securities, bonds, repurchase agreements, bills and beneficiary certificates, and access their cash management accounts. The Company provides professional advice and a range of consumer insurance products to its clients. It offers a portfolio of 61 insurance products, which includes 35 life insurance, and 26 property and casualty. Woori CS Asset Management has! one exch! ange traded funds and 63 other products, including structured products, overseas asset funds and index funds.
Woori Finance Information System has developed integrated customer relationship management (CRM) and Groupware systems, information technology (IT) systems for Woori Bank�� overseas branches and a credit risk management system for Woori Investment & Securities. The Company also deployed a standardized asset & liability management system and an imaging system for managing utility bill payments. The Company has also integrated the IT infrastructure of Woori CS Asset Management, Woori AVIVA Life Insurance and Woori Financial into its system.
Advisors' Opinion:- [By Holly LaFon]
Question: Is Berkshire too big to fail? How about DF and how does it impact insurance and Wells Fargo (WF) and Goldman Sachs (GS)?
Warren: It won�� affect it to my knowledge. Capital ratios for long banks at high levels and affects return on equity. Cap ratios increase and return on equity will increase. Banking in the U.S. is stronger than in the past 20 years. Compared to the EU or 20 years ago, it�� dramatically stronger. Don�� worry about banking being the cause of the next bubble. Usually we don�� get to a bubble the same way we got to the last one. I feel good about our investments at MNT and WFC. We won�� earn as much return on equity because the rules change.
- [By Holly LaFon]
Question: Is Berkshire too big to fail? How about DF and how does it impact insurance and Wells Fargo (WF) and Goldman Sachs (GS).
Warren: It won�� affect it to my knowledge. Capital ratios for long banks at high levels and affects return on equity. Cap ratios increase and return on equity will increase. Banking in the U.S. is stronger than in the past 20 years. Compared to the EU or 20 years ago, it�� dramatically stronger. Don�� worry about banking being the cause of the next bubble. Usually we don�� get to a bubble the same way we got to the last one. I feel good about our investments at MNT and WFC. We won�� earn as much return on equity because the rules change.
10 Best Clean Energy Stocks To Watch Right Now: Magellan Midstream Partners L.P.(MMP)
Magellan Midstream Partners, L.P., together with its subsidiaries, engages in the transportation, storage, and distribution of refined petroleum products and crude oil in the United States. Its pipeline system transports petroleum products and liquefied petroleum gases from the Gulf Coast refining region of Texas through the Midwest to Colorado, North Dakota, Minnesota, Wisconsin, and Illinois. The company owns and operates marine terminals, which store and distribute refined petroleum products, blendstocks, crude oils, heavy oils, and feedstocks, as well as inland terminals that consist of storage tanks connected to third-party interstate pipeline systems to deliver refined petroleum products. Its ammonia pipeline system transports ammonia from production facilities in Texas and Oklahoma to terminals in the Midwest. The company also stores, blends, and distributes biofuels, such as ethanol and biodiesel. As of March 31, 2011, it operated approximately 9, 600 miles of petr oleum products pipeline system and 51 terminals; 6 marine petroleum terminals located along the United States Gulf and East Coasts; a crude oil storage in Cushing, Oklahoma; 27 petroleum products inland terminals located principally in the southeastern United States; and a 1,100-mile ammonia pipeline system and 6 associated terminals. The company also provides ancillary services, such as heating, blending, and mixing of stored petroleum products and additive injection services. Its customers comprise independent and integrated oil companies, wholesalers, retailers, railroads, airlines, and regional farm co-operatives. The company serves various markets, including retail gasoline stations, truck stops, farm co-operatives, railroad fueling depots, and military and commercial jet fuel users. Magellan GP, LLC serves as the general partner of the company. The company was founded in 2000 and is based in Tulsa, Oklahoma.
Advisors' Opinion:- [By Richard Stavros]
Focusing on the energy infrastructure segment of the MLP market can provide a high level of cash flow stability while preserving inflation-hedging and diversification benefits. There is an explicit hedge against inflation in certain MLP contracts��or example, interstate crude oil pipeline companies, are allowed to increase their prices explicitly.
The Federal Energy Regulatory Commission (FERC) regulates pipelines and has established tariff rates that are adjusted on an annual basis to the PPI for finished goods plus 2.65%. MLPs also own real assets that provide value over replacement costs that generally increase during inflationary periods. Additionally, some MLPs considered to be ��idstream��also have diversified business lines with commodity exposure through upstream operations and experience increased revenues during periods of inflation due to higher commodity prices.
As Morgan Stanley explains in a report, looking at the fixed income side, many MLPs have a ��oll-road��business model, resulting in cash flow stability. These MLPs receive a fee, or ��oll,��for handling a customer�� product on their infrastructure system.
The MLP does not own the commodity, virtually eliminating commodity price exposure and smoothing out its cash flows. For example, natural gas pipelines receive stable income (essentially rental fees) from pipeline capacity reservations, independent of actual throughput, largely via ��hip-or-pay��contracts.
Other product pipeline revenues typically depend on throughput, as noted above, but are protected by inflation escalators that act as a hedge. Finally other midstream assets have similar fee-based contracts that vary in risk depending on their position in the energy value chain. That’s why a potential MLP investor that wants to hedge against inflation will have to find the right combination of exposure to the commodity and its “toll-road” earnings.
And MLP price perfo - [By Eric Volkman]
More money will soon be gushing from Magellan Midstream Partners (NYSE: MMP ) in the form of shareholder payouts. The company has increased its quarterly distribution to $0.5325 per unit. This will be paid on August 14 to holders of record as of August 7. That amount is $0.025, or nearly 5%, higher than Magellan's preceding payout of $0.5075 per unit.
- [By Paul Ausick]
Large MLPs with geographically diversified operations will fare better because they can shift assets around and make sure that all their distribution-paying subsidiaries meet the payroll, so to speak. Here are the seven largest MLPs by market cap:
Enterprise Product Partners LP (NYSE: EPD) – $61.23 billion Kinder Morgan Energy Partners LP (NYSE: KMP) – $35.13 billion Williams Partners LP (NYSE: WPZ) – $21.95 billion Plains All American Pipeline LP (NYSE: PAA) – $19.3 billion Energy Transfer Partners LP (NYSE: ETP) – $17.78 billion Magellan Midstream Partners LP (NYSE: MMP) – $15.52 billion Oneok Partners LP (NYSE: OKS) – $12.95 billionSize is not the only thing that matters, but size can help overcome some of the cash flow issues these MLPs face. The differentiating factor is a company�� distribution coverage ratio which is the cash the MLP has to distribute to its limited partners divided by its maintenance capex and interest on the company�� debt. Anything number larger than 1 is solid.
- [By Tyler Crowe]
Perhaps bigger players like Occidental were able to hog the limited takeaway capacity, but this won't be a good reason for slowed production very soon. Magellan Midstream Partners (NYSE: MMP ) and DCP Midstream (NYSE: DCP ) both have pipelines coming on line within the next couple of months that will have takeaway capacity of 225,000 and 350,000 barrels per day, respectively. Once these pipelines come on line, there should be much more room for LINN's production.�
10 Best Clean Energy Stocks To Watch Right Now: Nishat Power Ltd (NPL)
Nishat Power Limited (NPL) is a Pakistan-based company engaged in the electric utilities industry. The principal activity of the Company is to build, own, operate and maintain a fuel fired power station having gross capacity of 200 megawatt in Jamber Kalan, Tehsil Pattoki, District Kasur, Punjab, Pakistan. It has an installed annual capacity (based on 8,784 hours) of 1,715,559 megawatt hour. The Company�� customer is National Transmission and Dispatch Company Ltd (NTDC). During the fiscal year ended June 30, 2012, its actual energy delivered was 1,062,644 megawatt hour. The Company is a subsidiary of Nishat Mills Limited. Advisors' Opinion:- [By Federico Zaldua]
Despite growing expenses, in local currency terms, the bank's net income improved 16% year-over-year (yoy) while Non-Performing-Loans (NPL) have been kept below 4%. Hence, through Galicia, you can invest in an operationally healthy bank that shall behave in line with government bonds. Trading at 3 times P/E and 75% book value I think Galicia is good bet within the space.
High Exposure to Public Debt
Banco Macro (BMA) has been one of the highest growing banks during the last two decades. One interesting thing about Banco Macro is that the bank owns approximately $400 million of government related securities when the bank's total market capitalization is now just above $1 billion. On the other hand, Banco Macro is growing earnings aggressively at a 39% year over year rate in local currency terms with a very low (and stable) 1.6% NPL rate. Banco Macro is slightly more expensive than Galicia trading at 80% its book value and 3.2 times P/E.
10 Best Clean Energy Stocks To Watch Right Now: Acorn Energy Inc.(ACFN)
Acorn Energy, Inc., through its subsidiaries, provides technology driven solutions for energy infrastructure asset management worldwide. It offers sonar and acoustic related solutions for energy, defense, and commercial markets with a focus on underwater site security for strategic energy installations and other acoustic systems, as well as develops and produces real-time embedded hardware and software. The company also develops and markets remote monitoring systems to electric utilities and industrial facilities, which are used in a range of utility applications, including outage management, power quality monitoring, system planning, trouble shooting and proactive maintenance, and condition monitoring; and provides the intelligence to transmission and distribution network operators. In addition, it develops and produces fiber optic sensing systems for the energy, commercial security, and defense markets. The company?s patented ultra-high sensitivity fiber optic sensors a re designed to replace electronic sensors with fiber optic sensors. Further, it engages in the design, manufacture, marketing, and sale of wireless remote systems that monitor standby power generation, backup power generators, remote powered equipment, cellular towers, emergency towered communications, and remote tower sites; cathodic protection products to monitor pipeline integrity; and other wireless remote systems. Acorn Energy, Inc. was founded in 1986 and is based in Montchanin, Delaware.
Advisors' Opinion:- [By Bryan Murphy]
Neither Acorn Energy Inc. (NASDAQ:ACFN) nor Cardica, Inc. (NASDAQ:CRDC) may look all that compelling with just a passing glance. The longer one examines CRDC and ACFN, however - and really gets a grasp of their underlying stories - the more compelling each one becomes. In fact, newcomers may want to go ahead and put both budding stocks on their watchlists, if not in their portfolios.
- [By Roberto Pedone]
A technology stock that's starting to move within range of triggering a big breakout trade is Acorn Energy (ACFN), which provides digital solutions for energy infrastructure asset management. This stock has been hit hard by the sellers in 2013, with shares off sharply by 48%.
If you take a look at the chart for Acorn Energy, you'll notice that this stock has started to spike higher here back above its 50-day moving average of $3.66 a share. This stock has also found significant buying interest over the last two months, each time it has pulled back to around $3.50 to $3.20 a share. Shares of ACFN are now quickly moving within range of triggering a big breakout trade above some key near-term overhead resistance levels.
Traders should now look for long-biased trades in ACFN if it manages to break out above some key near-term overhead resistance levels at $4.24 to $4.64 a share with high volume. Look for a sustained move or close above those levels with volume that hits near or above its three-month average action of 344,835 shares. If that breakout triggers soon, then ACFN will set up to re-test or possibly take out its next major overhead resistance levels at $5.50 to $6 a share. Any high-volume move above $6 will then put its next major overhead resistance levels at its 200-day moving average of $6.35 to $6.68 a share into range for shares of ACFN.
Traders can look to buy ACFN off any weakness to anticipate that breakout and simply use a stop that sits right below its 50-day at $3.66 a share, or right around some major support at $3.21 a share. One could also buy ACFN off strength once it starts to clear those breakout levels with volume and then simply use a stop that sits a comfortable percentage from your entry point.
10 Best Clean Energy Stocks To Watch Right Now: STMicroelectronics N.V.(STM)
STMicroelectronics N.V., an independent semiconductor company, engages in the design, development, manufacture, and marketing of a range of semiconductor integrated circuits and discrete devices. Its products include discrete and standard commodity components, application-specific integrated circuits, custom devices and semi-custom devices, and application-specific standard products for analog, digital, and mixed-signal applications. The company also offers subsystems and modules for the telecommunications, automotive, and industrial markets comprising mobile phone accessories, battery chargers, ISDN power supplies, and in-vehicle equipment for electronic toll payment, as well as provides Smartcard products. Its products are used in various microelectronic applications consisting of automotive products, computer peripherals, telecommunications systems, consumer products, industrial automation, and control systems. The company sells its products through distributors and ret ailers. STMicroelectronics N.V. was founded in 1987 and is headquartered in Geneva, Switzerland.
Advisors' Opinion:- [By ICRAOnline]
Revenue for the last quarter stood at $73.4 million, up 27.9% from the year-ago quarter. This was primarily driven by the growth in memory technology licensing, coupled with impressive performance of its security technology licensing business. During the quarter, Rambus also signed new licensing agreements with tech giant Samsung Electronics, Micron Technology (MU), STMicroelectronics (STM), LSI Semiconductor (LSI) and SK Hynix. However, the company�� LED lighting business failed to make any significant contribution.
10 Best Clean Energy Stocks To Watch Right Now: Nuveen Floating Rate Income Fund (JFR)
Nuveen Floating Rate Income Fund is a closed-end management investment company. The Fund invests primarily in senior loans whose interest rates float or adjust periodically based on a benchmark interest rate index. Under normal market circumstances, the Fund will invest at least 80% of its managed assets in adjustable rate secured senior loans and adjustable rate unsecured senior loans, which unsecured senior loans will be, at the time of investment, investment grade quality. In addition, at least 65% of the Funds assets will be invested in senior loans that are secured by claims on specific collateral. Nuveen Asset Management is the advisor of the Fund. The sectors covered by the portfolio include media, hotels, restaurants and leisure, healthcare providers and service, chemicals, United States of America, containers/packaging and other.
Advisors' Opinion:- [By John Dowdee]
The following 10 funds satisfied all of these conditions:
BlackRock Float Rate Strategies (FRA). This CEF sells at a discount of 3%, which is low compared to an average premium of 2% over the past year. The distribution has been managed at 6.1% and a small amount (less than 10%) has been return of capital (ROC). However, this has not negatively affected net asset value (NAV) so has not been destructive. The fund holds 447 securities, with 90% in floating rate loans. FRA utilizes 27% leverage and has an expense ratio of 1.7%, including interest payments. Eaton Vance Floating Rate (EFR). This CEF sells at a 1% premium, which is low compared to an average premium of 5% over the past year. The distribution is 6.2%, none of which was ROC. The fund holds 800 securities, with 90% in floating rate loans. About 85% of the securities are from U.S. companies. EFR utilizes 35% leverage and has an expense ratio of 1.8% including interest payments. ING Prime Rate Trust (PPR). This CEF sells for a premium of 2%, which is below the average premium of 5%. It has a distribution of 6.8%, none of which was ROC. The fund has 350 holdings, virtually all in senior loans and from US companies. PPR utilizes 29% leverage and has a high expense ratio of 2.1%, including interest payments. Invesco VK Dynamic Credit Opportunities (VTA). This CEF sells for a discount of 5%, which is below the average discount of 1%. It has a distribution of 7.1%, none of which was ROC. The fund has 495 holdings, with 76% in floating rate loans. About 25% of the loans are from non-US companies. VTA utilizes a relatively low 20% leverage but still has a high expense ratio of 2.1%, including interest payments. Invesco VK Senior Income (VVR). This CEF sells for a discount of 1%, which is below the average premium of 3%. It has a distribution of 7.1%, none of which was ROC. The fund has over 500 holdings, with 89% in floating rate loans. Almost all (95%) securities are from US companies. VVR ut
10 Best Clean Energy Stocks To Watch Right Now: Acuity Brands Inc (AYI)
Acuity Brands, Inc. (Acuity Brands), incorporated on September 20, 2007, is the parent company of Acuity Brands Lighting, Inc. (ABL), and other subsidiaries. Acuity Brands is a provider of lighting solutions for commercial, institutional, industrial, infrastructure, and residential applications throughout North America and select international markets. The Company's lighting solutions include devices, such as luminaires, lighting controls, power supplies, prismatic skylights, light-emitting diode (LED) lamps, and integrated lighting systems for indoor and outdoor applications utilizing a combination of light sources, including daylight, and other devices controlled by software that monitors and manages light levels while optimizing energy consumption (collectively referred to herein as lighting solutions). Effective March 14, 2013, the Company acquired eldoLED Europe BV.
The Company manufactures lighting devices primarily in North America, Europe and Asia. The Company's lighting solutions are marketed under numerous brand names, including Lithonia Lighting, Holophane, Peerless, Mark Architectural Lighting, Hydrel, American Electric Lighting, Gotham, Carandini, RELOC, Antique Street Lamps, Tersen, Winona Lighting, Synergy Lighting Controls, Sensor Switch, Lighting Control & Design, Dark to Light, ROAM, Sunoptics, acculamp, Pathway Connectivity, and Healthcare Lighting. As of August 31, 2012, the Company manufactures products in 18 facilities in North America and two facilities in Europe.
Principal customers include electrical distributors, retail home improvement centers, electric utilities, municipalities, lighting showrooms, and energy service companies located in North America and select international markets serving new construction, renovation, and facility maintenance applications. In North America, the Company's lighting solutions are sold primarily by independent sales agents, electrical wholesalers, and factory sales representatives who cover specific geographic areas! and market channels. Products are delivered directly or through a network of distribution centers, regional warehouses, and commercial warehouses using both common carriers and a company-owned truck fleet. During the fiscal year ended August 31, 2012 (fiscal 2012), North American sales accounted for approximately 98% of net sales. The Company has one operating segment serving the North American lighting market and select international markets.
The Company provides a range of lighting solutions, as well as services used in the applications, such as lighting solutions and services. Lighting solutions and services includes commercial and institutional, industrial, infrastructure, residential and services. Commercial and Institutional includes stores, hotels, offices, schools, and hospitals, as well as other government and public buildings. Lighting solutions that serve these applications include recessed, surface, and suspended lighting products, recessed down lighting, track lighting, day lighting, and lighting controls (occupancy sensors, photocontrols, relay panels, architectural dimming panels, and integrated lighting controls systems), as well as special-use lighting products. The outdoor areas associated with these applications are addressed by a range of outdoor lighting products, such as area and flood lighting, decorative site lighting, and landscape lighting. Industrial includes primarily warehouses and manufacturing facilities, which utilize a range of general purpose, day lighting, and special-use lighting solutions. Infrastructure includes highways, tunnels, airports, railway yards, and ports. Products that serve these applications include street, area, high-mast, off-set roadway, sign lighting, poles, and integrated controls systems. Residential includes a combination of decorative, utilitarian, and down lighting products. Services include monitoring and controlling of lighting systems through network technologies.
The Company competes with Cooper Industries plc, Hu! bbell Inc! orporated, Koninklijke Philips Electronics N.V., OSRAM AG, Schneider Electric and General Electric Company.
Advisors' Opinion:- [By WWW.DAILYFINANCE.COM]
www.cintas.com From the leading distributor of spices and seasonings posting quarterly results to the top dog in corporate identity uniforms providing a snapshot of corporate America, here are some of the things that will help shape the week that lies ahead on Wall Street. Monday -- Uniform Decision The new trading week kicks off with Cintas (CTAS) reporting quarterly results. Cintas is the leading provider of leased company uniforms and other workplace essentials. The role it plays makes it a great bellwether for the state of corporate America. If companies are hiring, you will see it in an increase in revenue as orders pick up. Analysts see profitability improving at Cintas when it reports on Monday afternoon, but they also see revenue declining slightly. Tuesday -- Windows Watching Microsoft (MSFT) is hosting a press event in San Francisco on Tuesday. It was initially rumored to be the software giant's unveiling of Windows 9, but more recent reports speculate that Windows 9 won't be ready for public preview until next month. Microsoft has plenty of work to do in swaying a marketplace that wasn't wowed by Windows 8. The next operating system will likely retain many of the popular existing features while also bringing back some of the Windows 7 offerings, like making it easier to switch from the tiled layout of Windows 8 to the standard Start menu of Windows 7. Wednesday -- Lighten Up The fourth quarter officially kicks off on Wednesday. One company stepping up with fresh financials is Acuity Brands (AYI). The Atlanta-based provider of lighting solutions rang up $2 billion in sales last year across roughly two dozen brands. Wall Street pros see revenue climbing 12 percent in its fiscal fourth quarter. The analysts also see Acuity checking in with a profit of $1.22 a share, up nicely from the $1.03 a share it posted a year earlier. Thursday -- Spice of Life Things should spice up on Thursday morning when McCormick (MKC) reports its quarterly result
- [By Laura Brodbeck]
Tuesday
Earnings Expected: A. Schulman (NASDAQ: SHLM), Acuity Brands (NYSE: AYI), Franklin Covey (NYSE: FC) and Paychex (NASDAQ: PAYX) Economic Releases Expected: US ISM manufacturing PMI, US redbook, British manufacturing PMI, German unemployment rate, French manufacturing PMI, Italian manufacturing PMI, Spanish manufacturing PMI and Reserve Bank of Australia interest rate decisionWednesday
- [By Mike Deane]
Acuity Brands announced its second quarter earnings just as the opening bell rang on Wednesday, with the company posting slightly higher revenue and earnings than last year’s Q2.�
AYI’s Earnings in Brief
AYI reported fourth quarter revenues of $546.2 million, an increase of 12% million from last year’s Q2 revenues of $486.7 million. Net income for the quarter came in at $77.2 million, up from $50.8 million reported for last year’s Q2. The company�� diluted EPS for Q2 was 75 cents, an increase from last year’s 57 cent EPS. AYI missed analysts’ estimates of 83 cents EPS on revenues of $553.95 million. Looking ahead, AYI has a positive outlook on the lighting industry, and sees growth and strong demand.CEO Commentary
AYI’s chairman, president and CEO, Vernon J. Nagel, had the following comments: “We were very pleased with our fiscal 2014 second quarter results as we continued to execute our strategies to extend our leadership position in North America. While we believe inclement winter weather in certain parts of the U.S. dampened customer orders during the quarter and somewhat impacted our operations, the year-over-year increase in net sales reflects continued favorable trends in order rates as well as the continued adoption of LED lighting solutions, which again more than doubled over the prior year. Sales of LED-based luminaires now represent 30 percent of our�net sales. We believe our second quarter results reflect our ability to provide customers truly differentiated value from our industry-leading portfolio of innovative lighting and control solutions along with superior service.”
AYI’s Dividend
Acuity is paying its next dividend on May 1, and its stock goes ex-dividend on April 15. The company pays a quarterly dividend of 13 cents, which has not been touched since 2007.
Stock Performance
AYI stock was up slightly on Wednesday morning. YTD, the c
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