On Friday, Fortress Investment Group LLC (NYSE:FIG)’s shares declined -4.43% to $5.39.
Fortress Investment Group LLC (FIG) stated its second quarter 2015 financial results.
FINANCIAL SUMMARY
- Fortress declares a cash dividend of $0.08 per dividend paying share for the second quarter of 2015
- Administration Fee Paying Assets Under Administration (“AUM”) of $72.0 billion as of June 30, 2015, an enhance of 3% from the previous quarter and an enhance of 13% from June 30, 2014
- GAAP net income of $5 million, or $0.00 per diluted Class A share, for the second quarter of 2015, contrast to GAAP net income of $73 million, or $0.12 per diluted Class A share, for the second quarter of 2014
- Pre-tax distributable earnings (“DE”) of $137 million, or $0.30 per dividend paying share, for the second quarter of 2015, contrast to pre-tax DE of $172 million, or $0.39 per dividend paying share for the second quarter of 2014
Fortress Investment Group LLC is a publicly owned investment manager. The firm provides its services to pooled investment vehicles, pension and profit sharing plans, corporations, institutional managed accounts and structured products, banking or thrift institutions, investment companies, charitable organizations, and state or municipal government entities.
ADT Corp (NYSE:ADT)’s shares dropped -2.54% to $31.43.
The ADT Corporation (ADT) stated its financial results for the third quarter of 2015. The Company stated total revenue of $898 million, an enhance of 5.8%, or 6.2% in constant currency(1), contrast to the third quarter of 2014. Recurring revenue, which made up about 93% of total revenue in the quarter, was $834 million, up 6.2% contrast to the same period last year and up 6.8% in constant currency(1). Recurring revenue growth in the quarter was driven by an enhance in ADT’s new and resale revenue per user, which rose 2.4% over last year to $48.19, the addition of Reliance Protectron Inc. (“Protectron”), strong revenue growth by ADT Business and improved customer retention. Revenue attrition for the quarter improved to 12.4%, an improvement of 10 basis points sequentially and 150 basis points year-over-year. Unit attrition for residential and business improved 20 basis points sequentially, and 120 basis points from last year, ending at 12.3% for the quarter. ADT closed the quarter with 6.6 million customer accounts, a 4.9% enhance over last year. Pre-SAC EBITDA before special items raised by $16 million to $560 million(1), a 2.9% enhance over the preceding year, and pre-SAC EBITDA margin before special items was 66.0%(1). EBITDA before special items reduced by $1 million to $451 million(1), while EBITDA margin before special items was 50.2%(1) for the quarter. EBITDA before special items comprises the impact of about $6.3 million pre-tax related to the formerly revealed change in the way the Company accounts for dealer payments for leads generated through its marketing efficiency program.
The Company stated diluted earnings per share of $0.44 as compared to $0.47 in the preceding year. Not taking into account special items, diluted earnings per share was $0.49(1) as compared to $0.55(1) in the preceding year. The diluted earnings per share of $0.49 also comprises the quarterly impact of about $0.02 per share related to the formerly mentioned marketing efficiency program. Using the Company’s cash tax rate, diluted earnings per share before special items was $0.68(1).
The ADT Corporation provides monitored security, interactive home and business automation, and related monitoring services in the United States and Canada. The company’s monitored security and home/business automation offerings comprise the installation and monitoring of residential and business security, and premises automation systems designed to detect intrusion, control access and react to movement, smoke, carbon monoxide, flooding, temperature, and other environmental conditions and hazards, in addition to address personal emergencies, such as injuries, medical emergencies, or incapacitation.
At the end of Friday’s trade, Fluor Corporation (NEW) (NYSE:FLR)‘s dipped -2.00% to $43.66.
Fluor Corporation (NEW) (FLR) declared that the U.S.-China Business Council (USCBC) has elected Fluor’s Chief Operating Officer, Peter Oosterveer, to its board. As a USCBC board member, Oosterveer will work to advance the commercial relationship between the two countries to support trade and investment opportunities.
Fluor Corporation, through its auxiliaries, provides engineering, procurement, construction, fabrication and modularization, commissioning and maintenance, and project administration services worldwide. The company operates in five segments: Oil & Gas, Industrial & Infrastructure, Government, Global Services, and Power. The Oil & Gas segment offers a range of design, engineering, procurement, construction, and project administration services to upstream oil and gas production, liquefied natural gas, downstream refining, offshore production, pipeline, chemicals, and petrochemicals industries. It also provides consulting services comprising feasibility studies, process assessment, and project finance structuring and studies.
Fortune Brands Home & Security Inc (NYSE:FBHS), ended its Friday’s trading session with -0.31% loss, and closed at $48.79.
Fortune Brands Home & Security, Inc. (FBHS), an industry-leading home and security products company, declared second quarter 2015 results from ongoing operations and updated its 2015 annual outlook for earnings per share.
Second Quarter 2015
For the second quarter of 2015, sales were $1.17 billion, an enhance of 13 percent over the second quarter of 2014. Earnings per share were $0.48, contrast to $0.51 in the preceding-year quarter. EPS before charges/gains were $0.59, contrast to $0.51 the same quarter last year. Operating income was $128.2 million, contrast to $125.5 million in the preceding-year quarter. Operating income before charges/gains was $150.5 million, contrast to $125.6 million the same quarter last year.
For each segment in the second quarter of 2015, contrast to the preceding-year quarter:
- Cabinet sales raised 18 percent to the preceding year. Not taking into account the impact of the Norcraft acquisition, sales raised 8 percent, with the dealer channel growing 10 percent and in-stock cabinet and vanities increasing high teens.
- Plumbing sales raised 5 percent, with growth across the U.S. wholesale and retail channels, offset somewhat by the impact of Canadian currency and slower China sales.
- Door sales were up 6 percent with growth in both the wholesale and retail channels.
- Security sales raised 28 percent driven by the SentrySafe acquisition.
Fortune Brands Home & Security, Inc. provides home and security products for use in residential home repair, remodeling, new construction, security applications, and storage. It operates in four segments: Cabinets, Plumbing, Doors, and Security. The Cabinets segment manufactures custom, semi-custom, and stock cabinetry, in addition to vanities for the kitchen, bath, and other parts of the home under various brand names, counting Aristokraft, Kitchen Craft, Kitchen Classics, Omega, Schrock, Homecrest, Decorá, Diamond, St. Paul, Kemper, Thomasville, and Martha Stewart Living in North America.
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