On Tuesday, Owens-Illinois Inc (NYSE:OI)’s shares inclined 0.19% to $20.86.
Owens-Illinois, Inc. (OI) stated financial results for the second quarter ending June 30, 2015.
- Second quarter 2015 earningsfrom ongoing operations attributable to the Company were $0.26 per share (diluted). Not taking into account certain items administration considers not representative of ongoing operations, adjusted earnings[1] were $0.60 per share, which was at the high end of administration guidance. This compares to second quarter 2014 earnings of $0.80 per share on a stated basis, and to $0.65 per share on a constant currency basis.1
- Volumes were down 1 percent on a global basis year-over-year, largely a result of lower beer shipments in Brazil. Shipments for all other regions combined were flat.
- As predictable, lower segment operating profit was partially offset by favorable non-operational items, counting pension, interest and tax. Segment operating profit declined $75 million; $39 million on a constant currency basis. In North America and Asia Pacific, segment operating profits were on par with the preceding year second quarter. As indicated in the quarter, lower beer shipments in Brazil, against record sales in the comparable period, led to lower financial performance in South America. Profit in Europe was adversely influenced by planned production downtime and lower selling prices.
- In May 2015, the Company declared its projected acquisition of Vitro, S.A.B. de C.V.`s food and beverage glass container businessin an all-cash transaction valued at about $2.15 billion. Vitro is the largest supplier of glass containers in Mexico. The transaction, which is presently predictable to close in the second half of 2015, is projected to be accretive to cash flow and earnings per share in the first year after closing.
Owens-Illinois, Inc., through its auxiliaries, manufactures and sells glass container products to food and beverage manufacturers primarily in Europe, North America, South America, and the Asia Pacific. It produces glass containers for alcoholic beverages, counting beer, flavored malt beverages, spirits, and wine. The company is also involved in the production of glass packaging for various food items, soft drinks, teas, juices, and pharmaceuticals. It offers glass containers in a range of sizes, shapes, and colors.
Targa Resources Corp(NYSE:TRGP)’s shares dropped -1.59% to $83.54.
Targa Resources Partners LP (NGLS) and Targa Resources Corp. (TRGP) stated second quarter results.
Targa Resources Partners — Second Quarter 2015 Financial Results
Second quarter 2015 net income attributable to Targa Resources Partners was $45.8 million contrast to $108.8 million for the second quarter of 2014. Net income per diluted limited partner unit was $0.01 in the second quarter of 2015 contrast to $0.64 for the second quarter of 2014. The Partnership stated earnings before interest, income taxes, depreciation and amortization and other non-cash items (“Adjusted EBITDA”) of $303.2 million for the second quarter of 2015 contrast to $228.7 million for the second quarter of 2014. The Partnership’s distributable cash flow for the second quarter of 2015 of $218.4 million corresponds to distribution coverage of about 1.1 times the $200.4 million in total distributions to be paid on August 14, 2015 (see the section of this release entitled “Targa Resources Partners - Non-GAAP Financial Measures” for a talk aboution of Adjusted EBITDA, gross margin, operating margin and distributable cash flow, and reconciliations of such measures to their most directly comparable financial measures calculated and presented in accordance with U.S. generally accepted accounting principles (“GAAP”)).
Targa Resources Corp. — Second Quarter 2015 Financial Results
TRC stated net income accessible to common shareholders of $15.2 million for the second quarter 2015 contrast to $26.4 million for the second quarter 2014. The net income per diluted common share was $0.27 in the second quarter of 2015 contrast to net income per diluted common share of $0.63 for the second quarter of 2014.
The Company, which as of June 30, 2015 owned a 2% general partner interest in the Partnership (held through its 100% ownership interest in the general partner of the Partnership), all of the IDRs and 16,309,594 common units of the Partnership, presents its results merged with those of the Partnership.
Targa Resources Corp., through its general and limited partner interests in Targa Resources Partners LP, provides midstream natural gas and natural gas liquid (NGL) services in the United States. The company operates in two divisions, Gathering and Processing, and Logistics and Marketing. It is involved in gathering, compressing, treating, processing, and selling natural gas; storing, fractionating, treating, transporting, terminaling, and selling NGLs and NGL products; gathering, storing, and terminaling crude oil and refined petroleum products.
At the end of Tuesday’s trade, Entegris Inc (NASDAQ:ENTG)‘s shares dipped -1.43% to $14.50.
Entegris, Inc. (ENTG), a leading provider of yield-enhancing materials and solutions for advanced manufacturing processes, recently stated its financial results for the Company’s second quarter ended June 27, 2015.
The Company’s second-quarter sales of $280.7 million grew 6.6 percent sequentially and were even with pro forma sales of $280.6 million in the same quarter a year ago. Second-quarter net income of $24.4 million, or $0.17 per diluted share, comprised of amortization of intangible assets of $11.9 million and integration-related costs of $2.4 million associated with the April 30, 2014 acquisition of ATMI, Inc. Non-GAAP net income was $33.9 million, or $0.24 per diluted share.
For the first half of fiscal 2015, sales of $544.1 million raised 2 percent from the same period a year ago on a pro forma basis despite the negative impact of foreign currency. First-half 2015 net income was $39.3 million, or $0.28 per share, which comprised of amortization of intangible assets of $24.2 million and aggregated acquisition and integration-related of $5.0 million. Non-GAAP net income for the first half of fiscal 2015 was $59.3 million, or $0.42 per diluted share.
Entegris, Inc. manufactures and sells a range of products and services for purifying, protecting, and transporting the critical materials used in processing and manufacturing in the microelectronics and other high-technology industries worldwide. The company operates in two segments, Critical Materials Handling and Electronic Materials. The Critical Materials Handling segment provides a range of products that filter, handle, dispense, and protect critical materials used in the semiconductor manufacturing process and in other high-technology manufacturing. This segments products and subsystems comprise high-purity materials packaging, fluid handling and dispensing systems, and liquid filters in addition to microenvironment products that protect critical substrates, such as wafers during shipping and manufacturing.
Trimble Navigation Limited (NASDAQ:TRMB), ended its Tuesday’s trading session with 0.09% gain, and closed at $22.85.
Trimble (TRMB) declared financial results for the second quarter of 2015.
Second Quarter 2015 Financial Summary
Second quarter 2015 revenue of $585.8 million was down 9 percent as contrast to the second quarter of 2014. Engineering and Construction revenue was $338.5 million, down 8 percent. Field Solutions revenue was $87.1 million, down 24 percent. Mobile Solutions revenue was $128.3 million, up 4 percent. Advanced Devices revenue was $31.9 million, down 13 percent. Foreign currency translation unfavorably influenced company revenue by about 4 percent as contrast to the second quarter of 2014.
GAAP operating income was $36.0 million, down 63 percent as contrast to the second quarter of 2014. GAAP operating margin was 6.1 percent of revenue as contrast to 15.1 percent of revenue in the second quarter of 2014.
GAAP net income was $25.9 million, down 67 percent as contrast to the second quarter of 2014. Diluted GAAP earnings per share were $0.10 as contrast to diluted GAAP earnings per share of $0.29 in the second quarter of 2014.
Non-GAAP operating income of $97.1 million was down 35 percent as contrast to the second quarter of 2014. Non-GAAP operating margin was 16.6 percent of revenue as contrast to 23.2 percent of revenue in the second quarter of 2014.
Non-GAAP net income of $74.0 million was down 39 percent as contrast to the second quarter of 2014. Diluted non-GAAP earnings per share were $0.28 as contrast to diluted non-GAAP earnings per share of $0.45 in the second quarter of 2014.
Trimble Navigation Limited provides technology solutions to enhance the work processes of office and mobile field professionals worldwide. The company’s Engineering and Construction segment offers field and office software for route selection and design; systems to guide and control construction equipment; systems to monitor, track, and manage assets, equipment, and workers; software to share and communicate data; 3D conceptual design and modeling software; BIM software for design, construction, and maintenance; integrated site layout and measurement systems; application products; integrated workplace administration services software; capital program and facility administration solutions; and field based data collection systems and software, communications systems, and back-office software
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