On Thursday, Shares of Keurig Green Mountain, Inc. (NASDAQ:GMCR), lost -29.75% to $52.67, hitting its lowest level.
Keurig Green Mountain declared its business results for the 13 weeks ended June 27, 2015.
Third Quarter Fiscal 2015 Financial Review
Net Sales by Product
Net sales of $970 million reduced 5% as compared to the preceding year period with declines in brewer sales and pod sales. Foreign currency exchange rates negatively influenced sales by about 1.5 percentage points. Not taking into account the impact of foreign currency exchange rates, total net sales declined 4% and total Keurig beverage system sales declined 4% contrast to the preceding year period.
Net sales for the domestic segment declined 4% in the quarter while sales in the Canada segment declined 14% on a stated basis and declined 3% not taking into account the impact of foreign currency exchange rates.
Total pod net sales declined 1% in the quarter while brewers and accessories net sales declined 26%. Other product net sales declined 12% contrast to the preceding year period.
Keurig Green Mountain, Inc. produces and sells specialty coffee, coffeemakers, teas, and other beverages in the United States and Canada. It sources, produces, and sells coffee, hot cocoa, teas, and other beverages under various brands in K-Cup, Vue, Rivo, K-Carafe, and Bolt portion packs brands; and coffee in traditional packaging, counting bags and fractional packs, in addition to offers whole bean and ground coffee in bags, fractional packages, and cans.
Shares of Laredo Petroleum, Inc. (NYSE:LPI), inclined 9.24% to $8.51, during its last trading session, hitting its lowest level.
Laredo Petroleum declared its 2015 second-quarter results, reporting a net loss attributable to common stockholders of $397.0 million, or $1.88 per diluted share, which comprises a pre-tax, non-cash full cost ceiling impairment charge of $488.0 million. Adjusted Net Income, a non-GAAP financial measure, for the second quarter of 2015 was $9.8 million, or $0.05 per diluted share. Adjusted EBITDA, a non-GAAP financial measure, for the second quarter of 2015 was $117.9 million.
2015 Second-Quarter Highlights
- Produced 46,532 barrels of oil equivalent (“BOE”) per day, up about 38% from the comparable second quarter of 2014
- Generated Adjusted EBITDA of $117.9 million, flat with second-quarter 2014 as production growth and cost controls overcame a 46% decrease in realized oil prices
- Reduced unit cash costs to $13.52 per BOE, a decrease of about 28% from the second-quarter 2014 rate of $18.85 per BOE, on a three-stream basis
- Continued growth of the pipeline system managed by Medallion Gathering and Processing, LLC (“Medallion”), which is 49%-owned by Laredo Midstream Services, LLC (“LMS”), as total volumes raised to about 35,000 barrels of oil per day (“BOPD”) in the second quarter and are predictable to be about 60,000 BOPD in the third quarter
- Received $46.6 million of cash settlements on derivatives that matured in second-quarter 2015, increasing hedged pricing for oil by $21.62 per barrel and natural gas by $0.47 per thousand cubic feet, from pre-hedged average sales prices.
Laredo Petroleum, Inc. operates as an independent energy company in the United States. It focuses on the acquisition, exploration, and development of oil and natural gas properties primarily in the Permian Basin in west Texas.
Finally, Apache Corp. (NYSE:APA), ended its last trade with 4.86% gain, and closed at $46.60, hitting its lowest level.
Apache Corporation, declared a second-quarter 2015 net loss of $5.6 billion, or $14.83 per diluted common share, which comprises an after-tax ceiling-test write down of $3.7 billion resulting from current low commodity-price levels and $1.9 billion of other items, mostly after-tax losses and tax expense associated with the company’s assets sold during the quarter. When adjusted for certain items that impact the comparability of results, Apache’s second-quarter net income totaled $82 million, or $0.22 per share. Adjusted EBITDA from ongoing operations was $1.3 billion. Worldwide stated production for the second quarter was 564,000 boe per day. Counting 35,000 boe per day of production associated with suspended operations in Australia, Apache’s total production was 599,000 boe per day.
Apache has made noteworthy progress on its cost structure through widespread efforts across the organization. In North America, the company is now realizing a 25 percent reduction in average per-well drilling and completion costs year over year. Lease-operating costs per barrel of oil equivalent during the quarter were down about 13 percent year over year, and we have taken steps to significantly reduce G&A from the starting of the year that will be fully realized in 2016.
Apache Corporation, an independent energy company, explores, develops, and produces natural gas, crude oil, and natural gas liquids. It operates onshore and offshore assets primarily in the Permian Basin, the Anadarko basin in western Oklahoma, and the Texas Panhandle, Gulf Coast areas of the United States, in addition to in Western Canada.
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