On Wednesday, Shares of Tesoro Corporation (NYSE:TSO), gained 4.25% to $89.53.
Tesoro Corporation, stated first quarter 2015 net earnings of $145 million or $1.15 per diluted share contrast to net earnings of $78 million or $0.58 per diluted share for the first quarter of 2014. Adjusted earnings for the first quarter, not taking into account a net benefit from special items of $21 million after tax, were $124 million or $0.98 per diluted share. Adjusted EBITDA for the first quarter, not taking into account special items, was $489 million contrast to $362 million last year.
The first quarter of 2015 was influenced by work stoppages at the Anacortes, Washington and Los Angeles and Martinez, California refineries. Also during the first quarter, planned maintenance was performed at our Martinez, Anacortes and Salt Lake City, Utah refineries. Our California region was the most significantly influenced by the work stoppage. The Martinez refinery was idled during February and March and production was influenced at the Los Angeles refinery. Contrast to first quarter of 2014, California region throughput was lower by about 100 thousand barrels per day, resulting in raised operating costs of more than $1 per barrel.
The influence of the work stoppage and the planned turnarounds in the first quarter resulted in a merged refining gross margin of $11.77 per barrel contrast to the merged Tesoro Index of $16.71 per barrel. The combination of higher system throughput during January when margins were low, the work stoppage influence in February and March and inventory builds associated with the turnarounds resulted in lower capture rates for the quarter. We expect to realize a positive influence to system capture rates in the second quarter as we are in the final steps of concluding the planned maintenance. We still expect to achieve our 2015 plan, which is consistent with consensus EBITDA estimates of about $800 million for the second quarter and $2.6 billion for full year 2015.
Tesoro plans to release its full earnings for the first quarter 2015 after the market closes on Thursday, May 7, 2015. The Company will broadcast, live, its conference call with analysts regarding first quarter results and other business matters on Friday, May 8, 2015, at 7:30 a.m. CT.
Tesoro Corporation, through its auxiliaries, engages in petroleum refining and marketing activities in the United States. It operates in three segments: Refining, Tesoro Logistics LP (TLLP), and Retail. The Refining segment refines crude oil and other feed stocks into transportation fuels, such as gasoline, gasoline blend stocks, jet fuel, and diesel fuel, in addition to other products, counting heavy fuel oils, liquefied petroleum gas, petroleum coke, calcined coke, and asphalt.
Shares of Mattel, Inc. (NASDAQ:MAT), gained 4.19% to $28.36, during its last trading session.
Starting in Fall 2015, DC Entertainment, Warner Bros. Animation, Warner Bros. Consumer Products and Mattel, join forces to launch DC Super Hero Girls, an exciting new universe of Super Heroic storytelling that assists build character and confidence, and empowers girls to discover their true potential. Featuring DC Comics’ most powerful and diverse line-up of female characters as relatable teens, DC Super Hero Girls will play out across multiple entertainment content platforms and product categories to create an immersive world.
Developed for girls aged 6-12, DC Super Hero Girls centers on the female Super Heroes and Super-Villains of the DC Comics universe during their formative years—preceding to discovering their full super power potential. Featuring a completely new artistic style and aesthetic, DC Comics’ icons such as Wonder Woman, Supergirl, Batgirl, Harley Quinn, Bumble Bee, Poison Ivy, Katana and many more make their unprecedented teenaged introduction. Each character has her own storyline that explores what teen life is like as a Super Hero, counting discovering her unique abilities, nurturing her remarkable powers and mastering the fundamentals of being a hero.
The initial launch of DC Super Hero Girls in Fall 2015 will comprise an immersive digital experience, original digital content and digital publishing—providing opportunities for girls to interact with characters, learn about the storylines, and engage in customizable play. TV specials, made-for-videos, toys, apparel, books and other product categories will start to rollout in 2016.
Mattel, Inc. designs, manufactures, and markets a range of toy products worldwide. The company operates in three segments: North America, International, and American Girl. It offers dolls and accessories, vehicles and play sets, and games and puzzles under the Mattel Girls & Boys brands, counting Barbie, Monster High, Disney Classics, Ever After High, Little Mommy, Polly Pocket, Hot Wheels, Matchbox, CARS, Disney Planes, BOOMco, Radica, Toy Story, Max Steel, WWE Wrestling, and Batman.
At the end of Wednesday’s trade, Shares of Visa Inc. (NYSE:V), gained 4.07% to $68.01.
Visa, will report its fiscal second quarter 2015 financial results on Thursday, April 30, 2015. The results, together with accompanying financial information, will be released after market close and posted on the Visa Investor Relations website.
Visa’s executive administration team will then host a live audio webcast starting at 5:00 p.m. Eastern Time (2:00 p.m. Pacific Time) to talk about financial results and business highlights.
Visa Inc., a payments technology company, operates as a retail electronic payments network worldwide. The company facilitates commerce through the transfer of value and information among financial institutions, merchants, consumers, businesses, and government entities.
Finally, Yum! Brands, Inc. (NYSE:YUM), ended its last trade with 3.95% gain, and closed at $84.04.
YUM! Brands, stated results for the first quarter ended March 21, 2015, counting EPS of $0.80, not taking into account Special Items. Stated EPS was $0.81.
FIRST-QUARTER HIGHLIGHTS
- Worldwide system sales grew 4%. Worldwide restaurant margin reduced 1.7 percentage points to 17.5%, and worldwide operating profit reduced 8%.
- Total international development was 294 new restaurants; 88% of this development occurred in emerging markets.
- China Division system sales declined 6%, as 8% unit growth was offset by a 12% same-store sales decline. Restaurant margin reduced 4.5 percentage points to 18.9%. Operating profit reduced 31%.
- KFC Division system sales raised 8%, driven by 2% unit growth and 5% same-store sales growth. Operating margin raised 1.8 percentage points to 26.3%. Operating profit raised 11%.
- Pizza Hut Division system sales raised 2%, driven by 2% unit growth. Same-store sales were even. Operating margin reduced 1.5 percentage points to 30.0%. Operating profit declined 2%.
- Taco Bell Division system sales raised 9%, driven by 3% unit growth and 6% same-store sales growth. Operating margin raised 5.2 percentage points to 26.6%. Operating profit raised 37%.
- India Division system sales raised 1%, as 18% unit growth was largely offset by an 11% same-store sales decline.
- Worldwide effective tax rate reduced to 23.3% from 25.8%.
- Foreign currency translation negatively influenced operating profit by $20 million.
YUM! Brands, Inc., together with its auxiliaries, operates quick service restaurants. It operates in five segments: YUM China, YUM India, the KFC Division, the Pizza Hut Division, and the Taco Bell Division.
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