On Wednesday, CSX Corporation (NYSE:CSX)’s shares declined -1.05% to $32.86.
As CSX Corporation, declared first-quarter 2015 net earnings of $442 million, an 11 percent raise from $398 million in the same period last year. The company also generated earnings per share of $0.45, a 13 percent raise from $0.40 per share in the first quarter of 2014.
Revenue in the quarter was $3.0 billion, driven by growth across many of CSX’s markets and an improved pricing environment, partially offset by the influence of low natural gas prices, lower fuel recoveries and the strong U.S. dollar. At the same time, the benefit of lower fuel prices and cost-saving initiatives more than offset higher inflation and volume-related costs in the quarter. As a result, operating income raised by 14 percent to $843 million and the operating ratio improved 330 basis points to 72.2 percent.
The CSX Board of Directors has approved a raise in the quarterly dividend and a new share repurchase program. The 13 percent raise in the dividend, to $0.18 per share, is payable on June 15, 2015 to shareholders of record at the close of business on May 29, 2015. This is the 13th raise in 10 years, representing a 26 percent compound annual growth rate during that time. The new, $2 billion share repurchase program is predictable to be accomplished over the next 24 months.
Fastenal Company (NASDAQ:FAST)’s shares dropped -1.04% to $41.36, during the last trading session on Wednesday.
As Fastenal Company (FAST), stated the results of the quarter ended March 31, 2015.
In the first quarter of 2015, our business weakened. Similar to 2014, we practiced poor weather in North America; however, the real weakness was economic. The biggest influence came from customers engaged in the oil and gas business, but we also practiced weakness in other industries, as evidenced by the decline in the PMI Index.
During the first quarter of 2015, our total vehicle fuel costs were about $8.8 million. During the first, second, third, and fourth quarters of 2014, our total vehicle fuel costs were about $11.9, $12.5, $11.5, and $9.5 million, respectively. The changes resulted from variations in fuel costs, variations in the service levels offered to our stores from our distribution centers, changes in the number of vehicles at our store locations, changes in the number of other sales centered vehicles as a result of store openings and the expansion of our non-store sales force, and changes in driving conditions. These fuel costs comprise the fuel utilized in our distribution vehicles (semi-tractors, straight trucks, and sprinter trucks) which is recorded in cost of sales and the fuel utilized in our store delivery and other sales centered vehicles which is comprised of in operating and administrative expenses (the split in the last several years has been about 50:50 between distribution and store and other sales centered use).
During the first quarters of 2015 and 2014, we purchased 2,000,000 and 200,000 shares respectively, of our common stock at an average price of about $40.93 and $44.24 per share, respectively. Because we had exhausted our existing stock purchase authorization during the first quarter of 2015, on March 26, 2015 our board of directors authorized us to purchase up to 4,000,000 additional shares of our common stock. To date, no shares of common stock have been purchased under this new authority.
*The second quarter dividend was declared on April 13, 2015, and is payable on May 26, 2015 to shareholders of record at the close of business on April 28, 2015.
ANNUAL MEETING OF SHAREHOLDERS PRESENTATION
On Tuesday, April 21, 2015, we will be holding our annual meeting of shareholders at our offices at 2001 Theurer Boulevard, Winona, MN. The meeting will be webcast from 10:00 a.m., central time, until the conclusion of the meeting.
Fastenal Company, together with its auxiliaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, and internationally. The company offers fasteners, and other industrial and construction supplies primarily under the Fastenal name.
At the end of Wednesday’s trade, Equity Residential (NYSE:EQR)‘s shares dipped -1.04% to $75.31.
On March 30, Equity Residential (EQR), declared that the company will release its first quarter 2015 operating results on Tuesday, April 28, 2015 after the close of market and host a conference call to talk about those results on Wednesday, April 29, 2015 at 10:00 am Central.
Equity Residential, a real estate investment trust (REIT), engages in the acquisition, development, and administration of multifamily properties in the United States. As of December 31, 2007, it owned and invested in 579 properties in 24 states and the District of Columbia comprising of 152,821 units. The company qualifies as a REIT for federal income tax purposes. As a REIT, it would not be subject to federal income tax to the extent that it distributes at least 90% of its taxable income to its shareholders. Equity Residential was founded in 1966 and is headquartered in Chicago, Illinois.
Carnival Corp (NYSE:CCL), ended its Wednesday’s trading session with -1.01% loss, and closed at $47.01.
Yesterday, Princess Cruises has declared it will home port five ships to ports in Australia to sail the cruise line’s largest-ever program offering in Australia, New Zealand and the South Pacific for the 2016-2017 season. Princess Cruises will introduce the 3,082-guest Emerald Princess to the market, with Golden Princess returning to sail from Melbourne and Sun Princess, Sea Princess and Dawn Princess rounding out the fleet and expanding the cruise line’s in-market capacity by 20 percent.
Highlights of the new program comprise an 84-day Circle South America voyage, more ways to see New Zealand, longer South Pacific cruises and Circle Australia voyage options. In addition, Land and Sea Vacation packages will immerse adventure-seekers in the diverse destinations.
On sale starting April 22, 2015, the new Princess Cruises’ Australia season runs from October 2016 to April 2017. More details can be found at princess.com.
“Australia and the entire South Pacific region has always had an allure as a magical place for travellers, and cruising is one of the best ways to explore this part of the world,” said Jan Swartz, president of Princess Cruises. “As demand for the region grows, we’re responding with more voyages, more destinations and more creative itinerary options.”
One of the best-known names in cruising, Princess Cruises is a global cruise line and tour company operating a fleet of 18 modern cruise ships renowned for their innovative design and wide array of choices in dining, entertainment and amenities, all offered in an environment of exceptional customer service. A recognized leader in worldwide cruising, Princess carries 1.7 million guests each year to destinations around the globe ranging in length from three to 114 days. The company is part of Carnival Corporation & plc (NYSE/LSE:CCL; NYSE:CUK).
Carnival Corporation operates as a cruise company worldwide. It provides vacations to various cruise destinations. The company offers cruise services under the Carnival Cruise Lines, Holland America Line, Princess Cruises, and Seabourn brand names in North America; and AIDA Cruises, Costa Cruises, Cunard, and P&O Cruises names in Europe, Australia, and Asia. It operates 100 cruise ships. It also owns and operates 12 hotels or lodges, and about 300 motor coaches and 20 glass-domed railcars.
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