On Friday, Shares of Harsco Corporation (NYSE:HSC), lost -2.15% to $11.36.
Harsco Corporation, stated second quarter 2015 results. Diluted earnings per share from ongoing operations in the second quarter of 2015 were $0.08. This result compares with adjusted diluted earnings per share of $0.19 in the second quarter of 2014. On a U.S. GAAP (“GAAP”) basis, second quarter 2014 diluted loss per share from ongoing operations was $0.17, which comprised of Project Orion severance and exited site costs, contract termination charges and other adjustments.
Operating income for the second quarter of 2015 was $36 million, which was above the guidance range of $30 million to $35 million offered by the Company. In addition, the Company’s second quarter 2015 earnings comprised of an equity loss of about $8 million ($0.06 per share after tax) from the Brand Energy joint venture, which was influenced by inter-company foreign currency (“FX”) losses.
Harsco Corporation provides industrial services and engineered products worldwide. The company operates through three segments: Harsco Metals and Minerals, Harsco Rail, and Harsco Industrial.
Shares of E Commerce China Dangdang Inc (ADR) (NYSE:DANG), inclined 2.07% to $6.91, during its last trading session.
E-Commerce China Dangdang declared that its Board of Directors (the “Board”) has received a non-binding proposal letter, dated July 9, 2015, from Ms. Peggy Yu Yu, Chairwoman of the Board, and Mr. Guoqing Li, director and Chief Executive Officer of the Company (together, the “Buyer Group”), proposing a “going-private” transaction (the “Transaction”) to acquire all of the outstanding ordinary shares of the Company not already beneficially owned by the Buyer Group for $7.812 in cash per American depositary share (“ADS”), each representing five common shares. The projected purchase price represents a premium of 20% to the closing trading price of the Company’s ADS on July 8th, 2015, the last trading day preceding to the date hereof.
The Buyer Group presently beneficially owns about 35.9% of all the issued and outstanding common shares of the Company, which represent about 83.5% of the aggregate voting power of the Company.
E-Commerce China Dangdang Inc. operates as a business-to-consumer e-commerce company in the People’s Republic of China. It primarily sells books, periodicals, electronic publications, consumer electronics, and audio-visual products through its Website dangdang.com.
At the end of Friday’s trade, Shares of Baytex Energy Corp (USA) (NYSE:BTE), lost -2.75% to $8.14.
Baytex Energy Corp., reported its operating and financial results for the three and six months ended June 30, 2015.
“Given the current low crude oil price environment, we remain focused on prudently managing our operations to maintain strong levels of financial liquidity. The execution of our capital program has yielded impressive results in the Eagle Ford as we advance the multi-zone development potential of our acreage with 11 multi-zone projects in various stages of execution and production. In Canada, our assets continue to perform as predictable with limited capital investment. Through negotiated cost savings with service providers, our portfolio of development opportunities in the Eagle Ford, Peace River and Lloydminster continue to provide attractive returns,” commented James Bowzer, President and Chief Executive Officer.
Highlights
- Generated production of 84,812 boe/d (82% oil and NGL) in Q2/2015;
- Delivered funds from operations (“FFO”) of $158.0 million ($0.77 per share) in Q2/2015;
- Realized an operating netback (sales price less royalties, production and operating expenses, and transportation expenses) in Q2/2015 of $20.66/boe ($25.85/boe counting financial derivative gains);
- Advanced the multi-zone development potential of our Eagle Ford acreage with 30-day initial production rates per well ranging from 900 to 1,600 boe/d for two projects that targeted three separate horizons;
- Maintained a conservative payout ratio, net of participation in our dividend reinvestment plan (“DRIP”), of 24% (39% before DRIP) in Q2/2015; and
- Accomplished an equity financing on April 2, 2015, raising net proceeds of about $606 million which were applied to reduce outstanding indebtedness.
Baytex Energy Corp., an oil and gas company, engages in the acquisition, development, exploitation, and production of oil and natural gas in the Western Canadian Sedimentary Basin and the United States.
Finally, Unit Corporation (NYSE:UNT), ended its last trade with -4.60% loss, and closed at $16.38.
Unit Corporation stated its financial and operational results for the second quarter of 2015. Highlights for the quarter comprise:
- Total production of 5.1 million barrels of oil equivalent (MMBoe), a 9% enhance over the second quarter of 2014
- Oil and natural gas liquids (NGLs) production raised 8% over the second quarter of 2014
- Placed three BOSS drilling rigs into service during the quarter
- Gas gathered and gas processed volumes per day raised 11% and 15%, respectively, over the second quarter of 2014
Unit Corporation, together with its auxiliaries, operates as an oil and natural gas contract drilling company primarily in the United States. The company operates through three segments: Oil and Natural Gas, Contract Drilling, and Mid-Stream.
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