On Monday, Shares of SUPERVALU INC. (NYSE:SVU), gained 0.55% to $9.19.
SUPERVALU INC., declared that it is exploring a separation of its Save-A-Lot business, and that as part of that process it has begun preparations to allow for a possible spin-off of Save-A-Lot into a stand-alone, publicly traded company.
“Save-A-Lot is a leading national hard discount retailer with over 1,300 total stores, comprised of about 430 corporate stores and about 900 stores operated by licensee owners, and we believe Save-A-Lot has noteworthy growth potential. Over the last two and a half years, Save-A-Lot has repositioned its brand, refocused its efforts on fresh produce and meat, and remerchandised its stores and product offerings to better appeal to a broader group of customers,” said President and CEO Sam Duncan. “Today’s declaration reflects our commitment to ongoing to explore ways to maximize value for our shareholders. We believe a separation of our Save-A-Lot business could allow Save-A-Lot, our Independent Business and our Retail Food banners to better focus on their respective operations, and pursue strategies specific to their business characteristics and growth potentials, for the benefit of our shareholders, customers, licensees and employees.”
No specific timetable for a separation has been set and there can be no assurance that a separation of Save-A-Lot will be accomplished or that any other change in the Company’s overall structure or business model will occur.
SUPERVALU has engaged Barclays and Greenhill to serve as financial advisors, and Wachtell, Lipton, Rosen and Katz as legal advisor, in connection with this possible separation.
SUPERVALU INC., together with its auxiliaries, operates as a grocery wholesaler and retailer in the United States. The company operates through three segments: Independent Business, Save-A-Lot, and Retail Food.
Shares of AMN Healthcare Services, Inc. (NYSE:AHS), inclined 5.42% to $37.15, during its last trading session.
AMN Healthcare Services declared second quarter 2015 financial results that exceeded the Company’s guidance for revenue and adjusted EBITDA.
- Merged revenue rose 40% year-over-year, driven by organic growth of 24% and the remainder from acquisitions.
- Gross margin of 31.4% represented an improvement of 60 basis points year-over-year and 40 basis points from the preceding quarter.
- Adjusted EBITDA margin of 11.2% reflected a 190 basis point year-over-year improvement, driven primarily by the gross margin improvement and operating leverage.
- Adjusted diluted EPS of $0.38 grew 81% year-over-year.
Second Quarter 2015 Results
For the second quarter of 2015, merged revenue was $350 million, an enhance of 40% from the same quarter last year and 7% sequentially. Second quarter revenue for the Nurse and Allied Healthcare Staffing segment was $240 million, up 45% (27% not taking into account acquisitions) from the same quarter last year and 5% sequentially. Locum Tenens Staffing segment revenue in the second quarter was $97 million, an enhance of 31% (19% not taking into account acquisitions) from the same quarter last year and up 12% sequentially. Second quarter Physician Permanent Placement Services segment revenue was $13 million, an enhance of 19% from the same quarter last year and up 8% sequentially.
Second quarter gross margin of 31.4% was higher by 60 basis points than the same quarter last year and higher by 40 basis points sequentially. The year-over-year gross margin improvement was driven by raised revenue mix of our higher-margin workforce solutions businesses.
SG&A expenses for the second quarter were $75 million, representing 21.3% of revenue, contrast to 22.1% in the same quarter last year and 21.8% in the preceding quarter. The year-over-year improvement in SG&A expenses as a percentage of revenue was due primarily to operating leverage and a favorable professional liability actuarial adjustment. The favorable professional liability adjustment in the second quarter was $3.3 million, contrast to a favorable adjustment of $1.6 million in the same quarter last year. On a sequential basis, the lower SG&A percentage was driven by the favorable professional liability actuarial adjustment, which more than offset the growth in employee expenses to support the revenue growth.
AMN Healthcare’s differentiated strategy of serving healthcare providers through a diverse portfolio of innovative workforce solutions and staffing services continues to drive industry leading performance.
AMN Healthcare Services, Inc. provides healthcare workforce solutions and staffing services to healthcare facilities in the United States. It operates through three segments: Nurse and Allied Healthcare Staffing, Locum Tenens Staffing, and Physician Permanent Placement Services.
At the end of Monday’s trade, Shares of Molson Coors Brewing Company (NYSE:TAP), gained 2.23% to $73.23.
Molson Coors Brewing Company, declared the issue of its 2015 Corporate Responsibility Report, covering the company’s 2014 performance toward its 2020 aims.
In 2014, Molson Coors achieved meaningful progress toward its 2020 targets of zero waste to landfill, 25 percent energy reduction and 15 percent reduction in both carbon and water intensity. The company’s results comprised of:
- Reduced energy use by 3.4 percent, equivalent to the average annual energy consumption of 1,600 households
- Reduced carbon emissions by 2.4 percent, equivalent to 7,700 tons
- Reduced water use by 3.3 percent — nearly 8 percent below the 2011 baseline, saving over 500 million liters of water
- Reduced waste generated per pint of beer produced by 11.5 percent
- Invested over $20 million in new anaerobic digestion wastewater plants and energy centres
Molson Coors Brewing Company manufactures and sells beer and other beverage products. The company sells its products under the Coors Light, Molson Canadian, Carling, Carling Black Label, Coors Altitude, Coors Banquet, Creemore Springs, the Granville Island, Keystone Light, Mad Jack, Molson Canadian 67, Molson Canadian Cider, Molson Dry, Molson Export, Pilsner, and the Rickard’s family brands in Canada; and brews or distributes under the Amstel Light, Heineken, Murphy’s, Newcastle Brown Ale, Strongbow cider, Desperados, Dos Equis, Moretti, Sol, Tecate, Miller Chill, and Miller Genuine Draft brands.
Finally, F.N.B. Corp (NYSE:FNB), ended its last trade with 0.15% gain, and closed at $13.33.
F.N.B. Corporation, declared that the Office of the Comptroller of the Currency has approved the purchase and assumption application by F.N.B.’s largest associate, First National Bank of Pennsylvania, to acquire five branch offices from Bank of America, N.A. which comprise two branches in Berks County, two branches in Lancaster County and one branch in Chester County. There are no additional regulatory approvals needed to complete the transaction.
The transaction is planned to close on September 18, 2015.
F.N.B. Corporation, a financial holding company, provides various financial services to consumers, corporations, governments, and small- to medium-sized businesses primarily in Pennsylvania, eastern Ohio, and northern West Virginia. It operates through four segments: Community Banking, Wealth Administration, Insurance, and Consumer Finance.
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