On Tuesday, Ralph Lauren Corp (NYSE:RL)’s shares declined -1.28% to $119.00.
Ralph Lauren Corporation (RL) stated net income of $95 million, or $1.09 per diluted share, for the first quarter of Fiscal 2016, which excludes restructuring and non-cash charges associated with its global brand reorganization. This contrast to net income of $162 million, or $1.80 per diluted share, for the first quarter of Fiscal 2015. On a stated basis, net income was $64 million or $0.73 per diluted share in the first quarter. The Company also declared noteworthy progress on the transition to the new global brand administration organizational structure.
First Quarter 2016 Income Statement Review
Net Revenues. Net revenues for the first quarter of Fiscal 2016 were in line with the preceding year period on a constant currency basis, driven by double-digit growth internationally, contribution from new stores and global e-commerce expansion. Stated net revenues declined 5% to $1.6 billion in the first quarter. The decline in stated net revenues comprised of about 500 basis points of negative impact from foreign currency effects.
- Wholesale Sales.In the first quarter of Fiscal 2016, wholesale segment sales declined 6% on a constant currency basis. Wholesale revenue in the first quarter was negatively influenced by our customers’ receipt plans due to an earlier Easter this year which was partially offset by double-digit constant currency growth in Europe. Combining 4Q15 and 1Q16, which is more reflective of the Spring/Summer season, global wholesale revenues were up about 2% in constant currency. Stated wholesale segment sales declined 9% to $642 million.
Ralph Lauren Corporation designs, markets, and distributes lifestyle products worldwide. The company operates in three segments: Wholesale, Retail, and Licensing. It offers apparel, counting a range of men’s, women’s, and children’s clothing; accessories, which comprise footwear, eyewear, watches, fine jewelry, hats, belts, and leather goods, such as handbags and luggage; home products comprising of bedding and bath products, furniture, fabrics and wallpapers, lightings, paints, tabletops, and giftware; and fragrances.
CNO Financial Group Inc (NYSE:CNO)’s shares dropped -0.82% to $18.18.
CNO Financial Group, Inc. (CNO) declared second quarter of 2015 operating earnings (1) of $60.8 million, or 31 cents per diluted share, contrast to $71.3 million, or 32 cents per diluted share, in the second quarter of 2014.
Second Quarter 2015 Highlights
- Sales, as defined by total new annualized premium (“NAP”) (2): $105.5 million, up 1% from 2Q14
- Collected premium from our ongoing operating segments (3): $830.9 million down slightly from 2Q14
- Net income per diluted share: 24 cents in 2Q15 (counting 11 cents from the loss on extinguishment of debt) contrast to 35 cents in 2Q14
- Net operating income (1) per diluted share: 31 cents in 2Q15 contrast to 32 cents in 2Q14
- Unrestricted cash and investments held by our holding company were $385 million at June 30, 2015
- Common stock repurchases and dividends were $115 million in 2Q15
Six-month 2015 Highlights
- Sales, as defined by total NAP (2): $210.8 million, up 2% from the first six months of 2014
- Collected premium from our ongoing operating segments (3): $1,638.9 million down 1% from the first six months of 2014
- Net income (loss) per diluted share: 50 cents in the first six months of 2015 (counting 11 cents from the loss on extinguishment of debt) contrast to (69) cents in the first six months of 2014 (counting $1.35 from the loss on the sale of Conseco Life Insurance Company (“CLIC”) and gain on reinsurance transaction)
CNO Financial Group, Inc., through its auxiliaries, develops, markets, and administers health insurance, annuity, individual life insurance, and other insurance products for senior and middle-income markets in the United States. Its Bankers Life segment markets and distributes Medicare supplement insurance, interest sensitive and traditional life insurance, fixed annuities, and long term care insurance products; Medicare advantage plans primarily through distribution arrangements with Humana, Inc. and United HealthCare; and Medicare Part D prescription drug plans through a distribution and reinsurance arrangement with Coventry Health Care.
At the end of Tuesday’s trade, Rentech Nitrogen Partners LP (NYSE:RNF)‘s shares surged 7.70% to $14.27.
Rentech Nitrogen Partners, L.P. (RNF) declared financial and operating results for the three and six months ended June 30, 2015. The partnership also declared a cash distribution of $1.00 per unit for the second quarter of 2015.
Keith Forman, CEO of Rentech Nitrogen, said, Our second quarter results exceeded our expectations. Favorable weather at the startning of the spring application period resulted in strong demand for ammonia and ammonium sulfate. In addition, Im happy to see the Pasadena facility generate another quarter of positive EBITDA. We are well on our way to generating EBITDA in the range of $10 million at Pasadena this year.
Mr. Forman continued, We are forecasting 2015 to be our second best year since going public, with cash distributions for the year of about $2.00 per unit and merged EBITDA of about $118 million.
Rentech Nitrogen Partners, L.P. produces and sells nitrogen fertilizer products in the United States and internationally. It operates through two segments, East Dubuque and Pasadena. The company offers ammonia, urea ammonium nitrate solution, liquid and granular urea, nitric acid, food-grade carbon dioxide, ammonium sulfate, ammonium thiosulfate, and sulfuric acid. Rentech Nitrogen GP, LLC serves as the general partner of Rentech Nitrogen Partners, L.P. The company is based in Los Angeles, California. Rentech Nitrogen Partners, L.P. is a partner of Rentech Nitrogen Holdings, Inc.
Abraxas Petroleum Corp. (NASDAQ:AXAS), ended its Tuesday’s trading session with -2.65% loss, and closed at $1.84.
Abraxas Petroleum Corporation (AXAS) stated financial and operating results for the three and six months ended June 30, 2015.
Financial and Operating Results for the Three Months Ended June 30, 2015
The three months ended June 30, 2015 resulted in:
- Production of 498 MBoe (5,471 Boepd).
- Revenue of $20.5 million inclusive of realized hedge settlements.
- Adjusted EBITDA(a)of $11.9 million inclusive of Raven Drilling.
- For the purposes of our bank covenants, monetized hedge contracts are comprised of in our EBITDA calculation. With these adjustments EBITDA was $15.3 million (not taking into account Raven Drilling’s EBITDA).
- Adjusted discretionary cash flow(a)of $11.1 million inclusive of Raven Drilling.
- Net loss of $6.6 million, or $0.06 per share.
- Adjusted net loss(a), not taking into account certain non-cash items and inclusive of Raven Drilling of $0.07 million, or $0.00 per share.
Abraxas Petroleum Corporation, an independent energy company, engages in the acquisition, exploitation, development, and production of oil and gas properties in the United States. The company operates oil and gas assets in the Rocky Mountain, Permian Basin, and onshore Gulf Coast regions.
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