On Thursday, Shares of American Tower Corp (NYSE:AMT), gained 0.28% to $100.25.
American Tower Corporation stated financial results for the quarter ended June 30, 2015.
SECOND QUARTER 2015 OPERATING RESULTS OVERVIEW
- American Tower generated the following operating results for the quarter ended June 30, 2015 (unless otherwise indicated, all comparative information is presented against the quarter ended June 30, 2014).
- Total revenue raised 13.9% to $1,174 million, and total rental and administration revenue raised 14.8% to $1,154 million.
- Total rental and administration revenue Core Growth was about 23.2%, and total rental and administration Organic Core Growth was about 7.3%.
- Total rental and administration Gross Margin raised 13.1% to $843 million, and total rental and administration Gross Margin percentage was 73%.
- Adjusted EBITDA raised 11.7% to $762 million, Core Growth in Adjusted EBITDA was 21.1%, and Adjusted EBITDA Margin was 65%.
- Adjusted Funds from Operations (AFFO) raised 13.3% to $537 million, AFFO per Share raised 5.9% to $1.26, and Core Growth in AFFO was about 25.4%.
- Net income attributable to American Tower common stockholders reduced 43.8% to $129 million, and Net income attributable to American Tower common stockholders per basic and diluted common share reduced to $0.31 and $0.30, respectively.
- The Company incurred about $75 million in one-time debt retirement costs in the quarter, which, together with raised depreciation expense associated with recently accomplished acquisitions, were the primary drivers of the net income decline as compared to the preceding period.
- Cash offered by operating activities reduced 3.3% to $1,036 million for the first half of 2015.
American Tower Corporation is a real estate investment trust. It invests in the real estate markets across the globe. The firm engages in leasing of space on multi-tenant communications sites to wireless service providers, radio and television broadcast companies, wireless data and data providers, government agencies and municipalities and tenants in a number of other industries.
Shares of Oshkosh Corporation (NYSE:OSK), declined -2.36% to $38.47, during its last trading session.
Oshkosh Corporation Company, declared an order for 48 Pierce custom fire and emergency vehicles from the Kansas City Fire Department (KCFD) in Kansas City, Missouri. The order is for a wide range of custom apparatus, counting 28 pumpers, nine aerial platforms, four rescue pumpers, three heavy-duty rescues, three aerial tillers, and one Hazmat unit. The apparatus will be delivered starting in Spring 2016.
This order is being financed utilizing the fleet replacement-financing program offered through Pierce Financial Solutions in conjunction with PNC Equipment Finance, LLC. The fleet replacement-financing program is a flexible, cost effective fleet administration system accessible to Pierce customers.
The 28 pumpers are built on Pierce Impel custom chassis with a 201-inch wheelbase, and each features a 450 HP engine, TAK-4 independent front suspension, Command Zone advanced electronics and control system, a raised roof cab, and a frontal and side roll protection system. The pumpers also feature a 1,500 GPM single stage pump, a 500-gallon water tank, full-height and full-depth compartments and a full complement of ground ladders.
The four rescue pumpers are built on Pierce Impel custom chassis each with a 450 HP engine, TAK-4 independent suspension, Command Zone advanced electronics and control system, a raised-roof cab, Pierce’s frontal impact and side roll protection system, and seating for five firefighters. The vehicles also feature a 161-inch aluminum body, a 500-gallon water tank, and three crosslays.
Oshkosh Corporation designs, manufactures, and markets specialty vehicles and vehicle bodies worldwide. Its Access Equipment segment offers aerial work platforms and telehandlers used in construction, agricultural, industrial, institutional, and general maintenance applications.
At the end of Thursday’s trade, Shares of North Atlantic Drilling Ltd. (NYSE:NADL), lost -9.02% to $0.790.
North Atlantic Drilling Ltd., declared that Ragnvald Kavli, Chief Financial Officer, has decided to leave the Company to pursue other career opportunities and will step down from his duties as of August 17th 2015.
Scott McReaken will succeed Mr Kavli as Chief Financial Officer for North Atlantic Drilling. Mr McReaken will assume his new responsibilities together with his current responsibilities as Chief Executive Officer in Sevan Drilling. Mr McReaken comes with a strong background within the Seadrill Group where he has held various administration positions. In addition he has held positions in other offshore drilling contractors in Norway, USA, West Africa and Latin America. He holds a bachelor of business administration in accounting from The University of Texas at Austin and is a Certified Public Accountant and Certified Internal Auditor.
The Board of North Atlantic Drilling welcomes Scott McReaken to the Executive Team and expresses their appreciation to Ragnvald Kavli for his contributions to North Atlantic Drilling.
North Atlantic Drilling Limited operates as an offshore drilling services contractor in the North Atlantic region. The company provides harsh environment offshore drilling services to the oil and gas industry primarily in Norway and the United Kingdom. As of December 31, 2014, the company owned eight offshore drilling rigs, counting one ultra-deep water drillship, three jack-up rigs, and four semi-submersible rigs comprising one rig under construction.
Finally, Summit Materials Inc (NYSE:SUM), ended its last trade with 0.38% gain, and closed at $26.33.
Summit Materials, declared the launch of an offering of 17,500,000 shares of its Class A common stock. Summit anticipates to grant the underwriters a 30-day option to purchase up to an additional 2,625,000 shares of Class A common stock.
Summit intends to use all of the net proceeds from the offering to purchase for cash 3,750,000 newly-issued limited partnership units, or LP Units, from Summit Materials Holdings L.P., its direct partner, and 13,750,000 outstanding LP Units from certain pre-IPO owners, counting associates of The Blackstone Group L.P. and certain of the Company’s directors and officers. Summit Holdings intends to use the proceeds it receives to pay all or a portion of the deferred purchase price of the Company’s recent acquisition of a cement plant in Davenport, Iowa and seven cement distribution terminals situated along the Mississippi River.
Summit Materials, Inc., through its auxiliaries, produces and sells heavy-side construction materials and related downstream products. Its products comprise crushed stone, construction sand and gravel, cement and ready-mixed concrete, asphalt paving mixes, and limestone and concrete products.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified through the use of such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should might occur.
