On Tuesday, Shares of Vornado Realty Trust (NYSE:VNO), loss -3.69% to $100.73.
Vornado Realty Trust, filed its Form 10-Q for the quarter ended March 31, 2015 recently and stated:
NET INCOME attributable to common shareholders for the quarter ended March 31, 2015 was $84.6 million, or $0.45 per diluted share, contrast to $62.3 million, or $0.33 per diluted share for the quarter ended March 31, 2014. Net income for the quarters ended March 31, 2015 and 2014 comprise $0.3 million and $20.8 million, respectively, of real estate impairment losses and $10.9 million of net gains on sale of real estate in the quarter ended March 31, 2015. In addition, the quarters ended March 31, 2015 and 2014 comprise certain other items that affect comparability. Adjusting net income attributable to common shareholders for net gains on sale of real estate, real estate impairment losses, net of amounts attributable to non-controlling interests, net income attributable to common shareholders for the quarters ended March 31, 2015 and 2014 was $65.8 million and $45.8 million, or $0.35 and $0.24 per diluted share, respectively.
FUNDS FROM OPERATIONS attributable to common shareholders plus assumed conversions (“FFO”) for the quarter ended March 31, 2015 was $220.1 million, or $1.16 per diluted share, contrast to $247.1 million, or $1.31 per diluted share for the preceding year’s quarter. Adjusting FFO for certain items that affect comparability, FFO for the quarters ended March 31, 2015 and 2014 was $209.3 million and $187.3 million, or $1.10 and $0.99 per diluted share, respectively.
Vornado Realty Trust is a publicly owned real estate investment trust. The firm invests in the real estate markets of the United States. It makes investments in commercial real estate properties to create its portfolio. The firm was formerly known as Vornado Inc. Vornado Realty Trust is based in New York City with additional offices in Arlington, Virginia; and Paramus, New Jersey.
Shares of Berry Plastics Group, Inc. (NYSE:BERY), declined -3.69% to $32.89, during its last trading session.
Berry Plastics Group, stated results for its second fiscal 2015 quarter, referred to in the following as the March 2015 quarter:
- Recorded net income per diluted share of $0.31 and adjusted net income per diluted share of $0.42 for the March 2015 quarter
- Raised Operating EBITDA by 10 percent to $210 million for the March 2015 quarter contrast to $191 million in the March 2014 quarter
- Generated $112 million of cash flow from operations and adjusted free cash flow of $71 million for the March 2015 quarter
- Adjusted free cash flow of $304 million and adjusted EBITDA of $831 million for the four quarters ended March 2015
- Raised fiscal year 2015 adjusted free cash flow guidance nearly 10 percent to $350 million.
Berry Plastics Group, Inc. manufactures and distributes plastic consumer packaging and engineered materials in North America and internationally. The company operates through four segments: Rigid Open Top, Rigid Closed Top, Engineered Materials, and Flexible Packaging. It offers rigid packaging products, counting containers.
At the end of Tuesday’s trade, Shares of Axiall Corporation (NYSE:AXLL), dipped 0.38% to $64.13.
Axiall Corporation, declared financial results for the quarter ended March 31, 2015.
The company stated net sales of $947.6 million for the first quarter of 2015, contrast to net sales of $993.7 million for the first quarter of 2014. The company stated a net loss attributable to Axiall of $10.6 million, or a $0.15 loss per diluted share, for the first quarter of 2015, contrast to a net loss attributable to Axiall of $11.6 million, or $0.17 loss per diluted share, for the first quarter of 2014. The company stated an Adjusted Net Loss of $3.6 million and an Adjusted Loss Per Share of $0.05 for the first quarter of 2015, contrast to an Adjusted Net Loss of $5.3 million and an Adjusted Loss Per Share of $0.08 for the first quarter of 2014. The company stated Adjusted EBITDA of $83.2 million for the first quarter of 2015, contrast to Adjusted EBITDA of $67.6 million for the first quarter of 2014.
Chlorovinyls
In the Chlorovinyls segment, first quarter 2015 net sales were $648.4 million contrast to $682.2 million during the first quarter of 2014. This net sales decrease was primarily due to lower vinyl prices, driven by lower feedstock pricing; and lower ECU values, especially with respect to caustic soda pricing. These unfavorable factors were partially offset by higher operating rates and related sales volumes, as the first quarter of 2014 was influenced by an extended outage at our PHH VCM manufacturing facility. The segment posted Adjusted EBITDA of $96.7 million in the first quarter of 2015, contrast to Adjusted EBITDA of $76.2 million for the same quarter in the preceding year. The $20.5 million enhance in Adjusted EBITDA was primarily due to decreases in our cost of natural gas and ethylene, higher operating rates and related sales volumes, and reduced maintenance expenses. These favorable factors were partially offset by lower vinyl prices and lower ECU values, especially with respect to caustic soda pricing.
Axiall Corporation manufactures and markets chemicals and building products in the United States and internationally. The company operates through three segments: Chlorovinyls, Building Products, and Aromatics.
Finally, Avis Budget Group, Inc. (NASDAQ:CAR), ended its last trade with -3.68% loss, and closed at $53.71.
Avis Budget Group, stated results for its first quarter ended March 31, 2015. For the quarter, the Company stated revenue of $1.9 billion and Adjusted EBITDA of $117 million. The Company stated net income of $19 million, or $0.17 per share, not taking into account certain items, and GAAP net loss of $9 million, or $0.09 per share.
Executive Summary
Revenue declined 1% in first quarter 2015 contrast to first quarter 2014 primarily due to a 5% enhance in rental days in the Americas, offset by an about $85 million negative impact from movements in currency exchange rates. First quarter Adjusted EBITDA remained unchanged at $117 million. Results benefited from raised rental volumes and from movements in currency exchange rates, which favorably influenced Adjusted EBITDA by $17 million in the quarter. These positives were offset by inflationary cost pressures, a weather-related reduction in fleet utilization, and $7 million in legal expense incurred to settle in principle two long-standing U.S. cases.
Avis Budget Group, Inc., together with its auxiliaries, provides car and truck rentals, car sharing, and ancillary services to businesses and consumers worldwide. The company has three segments: North America, International, and Truck Rental.
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