On Friday, Advance Auto Parts, Inc. (NYSE:AAP)’s shares declined -3.68% to $177.54.
Advance Auto Parts, Inc. (AAP), the largest automotive aftermarket parts provider in North America, serving both professional installer and do-it-yourself customers, recently declared its financial results for the second quarter ended July 18, 2015. Second quarter comparable cash earnings per diluted share (Comparable Cash EPS) were $2.27, which comprised of a $0.03 unfavorable impact from foreign currency and was an enhance of 9.1% as compared to the second quarter last year. These second quarter comparable results exclude $0.08 of amortization of attained intangible assets and integration costs of $0.16 primarily associated with the acquisition of General Parts International, Inc. (General Parts).
Second Quarter 2015 Highlights
Total sales for the second quarter raised 1.0% to $2.37 billion, as contrast with total sales during the second quarter of fiscal 2014 of $2.35 billion. The sales enhance was driven by the addition of new stores over the past 12 months and a comparable store sales enhance of 1.0% partially offset by changes in our independent store count. Our comparable store sales were negatively influenced by 34 basis points due to foreign currency fluctuations from our Canadian operations.
The Company’s Gross Profit rate was 45.9% of sales during the second quarter as contrast to 45.2% during the second quarter last year. The 64 basis-point enhance in gross profit rate was primarily the result of lower product acquisition costs, inclusive of the Company’s ongoing merchandise cost synergy savings.
The Company’s Comparable SG&A rate was 33.8% of sales during the second quarter as contrast to 34.0% during the same period last year. The 22 basis-point decrease was primarily the result of lower insurance costs and overall lower administrative costs driven by synergy savings partially offset by expense de-leverage as a result of our low comparable store sales growth. On a GAAP basis, the Company’s SG&A rate was 35.0% of sales during the second quarter as contrast to 35.0% during the same period last year.
Advance Auto Parts, Inc., through its auxiliaries, operates as a specialty retailer of automotive replacement parts, accessories, batteries, and maintenance items. It operates stores that offer brand name, original equipment manufacturer, and private label automotive products, counting alternators, batteries, belts and hoses, brakes and brake pads, chassis parts, climate control parts, clutches, driveshafts, engines and engine parts, ignition parts, lighting, radiators, starters, spark plugs and wires, steering and alignment parts, transmissions, water pumps, and windshield wiper blades; accessories, such as air fresheners, automotive paint, anti-theft devices, emergency road kits, floor mats, ice scrapers, mirrors, seat and steering wheel covers, and vent shades; chemicals comprising antifreeze, brake and power steering fluid, car washes and waxes, freon, fuel additives, and windshield washer fluid; and oils, transmission fluids, and other automotive petroleum products for domestic and imported cars, vans, sport utility vehicles, and light and heavy duty trucks.
PDC Energy Inc (NASDAQ:PDCE)’s shares dropped -3.90% to $49.47.
PDC Energy, Inc. (PDCE) stated its 2015 second quarter financial and operating results and updated its 2015 full-year guidance.
2015 Second Quarter Highlights
- Production of 37,001 Boe per day; 46% enhance year-over-year and 15% growth contrast to the first quarter of 2015.
- Crude oil production of 17,378 Bbls per day; 47% enhance year-over-year and 20% growth contrast to the first quarter of 2015.
- Spud 43 and turned-in-line 44 gross operated horizontal wells.
- In July 2015, Moody’s and Standard & Poor’s upgraded PDC’s corporate debt rating to B1 and B+ respectively, reflecting stronger operational and debt metrics.
PDC Energy, Inc., an independent exploration and production company, acquires, explores for, develops, and produces crude oil, natural gas, and natural gas liquids in the United States. The company operates in two segments: Oil and Gas Exploration and Production, and Gas Marketing. The Oil and Gas Exploration and Production segment produces and sells natural gas to midstream service providers, marketers, and utilities; crude oil; and natural gas liquids.
At the end of Friday’s trade, Aberdeen Asia-Pacific Income Fund, Inc. (NYSEMKT:FAX)‘s shares dipped -0.64% to $4.65.
Aberdeen Asia-Pacific Income Fund, Inc. (the “Fund”) (NYSE MKT: FAX), a closed-end bond fund, declared recently its performance data and portfolio composition as of July 31, 2015.
As of July 31, 2015, the average maturity of the portfolio was 8.1 years.
The Fund utilizes various forms of leverage as detailed in the Fund’s most recent annual reports to shareholders. The outstanding balance of all leverage as of July 31, 2015 is $600,000,000, which represents no change from the previous month.
As of July 31, 2015, the Fund’s leverage comprises of $50 million in 10-year privately issued mandatorily redeemable preferred stock, $100 million in 7-year privately placed senior secured notes, $100 million in 10-year privately placed senior secured notes, $100 million in a 3-year term loan, $100 million in a 5-year term loan, and $150 million in a 3-year syndicated revolving credit facility.
MasTec, Inc. (NYSE:MTZ), ended its Friday’s trading session with -0.64% loss, and closed at $15.41.
MasTec, Inc. (MTZ) declared 2015 second quarter financial results and updated its guidance for the balance of the year.
Second quarter 2015 revenue reduced 3.7% to $1.07 billion from $1.1 billion in the preceding year quarter. The quarterly revenue change was primarily composed of revenue declines in the Electrical Transmission and Communications segments, partially offset by revenue enhances in the Oil & Gas and Power Generation & Industrial segments. Second quarter 2015 net loss from ongoing operations was $3.8 million, or $0.05 per diluted share, contrast to net income from ongoing operations of $33.7 million, or $0.39 per diluted share, for the second quarter of 2014. Second quarter 2015 results comprise about $0.14 per diluted share for non-operating and non-core charges not comprised of in preceding year results, composed primarily of WesTower acquisition integration costs, Audit Committee investigation related costs and the nonrecurring impact of an income tax law change in Alberta, Canada.
MasTec, Inc., an infrastructure construction company, provides engineering, building, installation, maintenance, and upgrade services for communications, energy, and utility infrastructure in the United States and internationally. It operates in five segments: Communications, Oil and Gas, Electrical Transmission, Power Generation and Industrial, and Other.
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.
