On Thursday, Shares of AutoNation Inc. (NYSE:AN), dropped -1.31% to $64.97.
AutoNation, stated 2015 first quarter net income from ongoing operations of $112 million, or $0.97 per share, contrast to adjusted net income from ongoing operations of $91 million, or $0.75 per share, for the same period in the preceding year, a 29% improvement on a per-share basis. On a GAAP basis, first quarter 2014 net income from ongoing operations was $96 million, or $0.79 per share.
First quarter 2015 revenue totaled $4.9 billion, an enhance of 13%, driven by stronger performance in all business sectors – new vehicles, used vehicles, parts and service, and finance and insurance. In the first quarter of 2015, AutoNation’s retail new vehicle unit sales raised 10% overall and 9% on a same store basis, while retail used vehicle unit sales raised 12% overall and 11% on a same store basis.
Acquisitions
In April 2015, AutoNation accomplished the acquisitions of a Mercedes-Benz store in San Jose, California and a Chrysler Dodge Jeep Ram store in Valencia, California. In addition, AutoNation has signed a contract to acquire a Jaguar, Land Rover and Volvo store in Spokane, Washington, subject to customary terms and conditions, counting manufacturer approval. As formerly declared, during the first quarter of 2015, AutoNation accomplished the acquisitions of a Mercedes-Benz store in Reno, Nevada and a Volkswagen store in the Atlanta, Georgia market. The combined annual revenue for the stores attained since the starting of 2015 and the Jaguar, Land Rover and Volvo store is about $320 million.
AutoNation, Inc., through its auxiliaries, operates as an automotive retailer in the United States. The company operates in three segments: Domestic, Import, and Premium Luxury. It offers a range of automotive products and services, counting new and used vehicles.
Shares of Casella Waste Systems Inc. (NASDAQ:CWST), declined -1.29% to $5.34, during its last trading session.
Casella Waste Systems, will host a conference call on Thursday, May 7, 2015 to talk about the company’s financial results for the three month period ended March 31, 2015.
The company will release its financial results after the close of the market on Wednesday, May 6, 2015. The Company will host a conference call to talk about these results on Thursday, May 7, 2015 at 10:00 a.m. Eastern Time.
Casella Waste Systems, Inc., together with its auxiliaries, operates as a regional, vertically-integrated solid waste, and resource administration services company in the northeastern United States. It provides resource administration services, primarily in the areas of solid waste collection and disposal, transfer, recycling, and organics services to residential, commercial, municipal, and industrial customers.
At the end of Thursday’s trade, Shares of Fiat Chrysler Automobiles N.V. (NYSE:FCAU), dwindled -1.29% to $16.08.
Fiat Chrysler Automobiles, and CNH Industrial declare their support of the USA Pavilion at the forthcoming world’s fair in Milan from May through October 2015. Expo Milano 2015 is predictable to draw close to 20 million visitors during its six months’ worth of performances, meetings, conferences and gatherings, all converging around the theme of “Feeding the Planet, Energy for Life.”
FCA US will serve proudly as the exclusive automotive sponsor of the USA Pavilion, a partnership that demonstrates the automaker’s core values counting innovation, sustainable mobility, and community, while at the same time, showcases the vital role trucks play in the everyday life of those in agriculture. As part of the FCA US partnership with the USA Pavilion, multimedia screens throughout the building will feature images from the Ram Truck brand’s award-winning “Farmer” campaign, a tribute to American agriculture and the brand’s long-standing commitment to supporting those who work in family farming, agriculture and other farming-related industries.
CNH Industrial will be featured as the exclusive agriculture and construction equipment sponsor of the USA Pavilion. It will showcase its agricultural machinery brand, Case IH, and construction equipment brand, Case Construction Equipment, both of which play important roles in the American farming and infrastructure sectors. Images and video of the brands’ products at work will be prominently displayed around the pavilion demonstrating how these machines work to bring food to the tables of millions of Americans.
Also stationed outside of the USA Pavilion is its Food Truck Nation, an al fresco catering area, featuring Fiat Professional Ducato vehicles. Each truck will be adorned with images representing food, agriculture and the United States. The exterior of the Food Truck Nation will be wrapped with artwork depicting “The Spirit of American Farming” with a combine harvester from Case IH and a Ram 1500.
Fiat Chrysler Automobiles N.V., an automotive group, designs, engineers, manufactures, distributes, and sells vehicles and components. It offers passenger cars, light trucks, and light commercial vehicles under the Abarth, Alfa Romeo, Chrysler, Dodge, Fiat, Fiat Professional, Jeep, Lancia, and Ram brand names, in addition to after-sales services and parts under the Mopar brand name.
Finally, SunTrust Banks, Inc. (NYSE:STI), ended its last trade with -1.23% loss, and closed at $40.91.
SunTrust Banks, stated net income accessible to common shareholders of $411 million, or $0.78 per average common diluted share, representing a 7% per share enhance contrast to the first quarter of 2014.
Earnings in the preceding quarter were $378 million, or $0.72 per average common diluted share, and comprised of a $145 million legal provision expense related to legacy mortgage matters. Not taking into account the impact of this expense, adjusted earnings per share for the preceding quarter were $0.88.
First quarter 2015 Financial Highlights
Income Statement
- Net income accessible to common shareholders was $411 million, or $0.78 per average common diluted share, a 7% enhance, per share, over the first quarter of 2014.
- Total revenues declined 2% contrast to the preceding quarter and the first quarter of 2014 due to a decline in net interest income.
- Noninterest income raised 3%, both sequentially and contrast to the first quarter of 2014, based largely on higher mortgage production-related income, in addition to a gain realized upon the sale of legacy affordable housing properties during the current quarter.
- Noninterest expense reduced $130 million contrast to the preceding quarter, primarily driven by the impact of the $145 million legal provision expense related to legacy mortgage matters in the preceding quarter. Not taking into account this impact, noninterest expense raised $15 million, as seasonally higher compensation and benefits expenses were partially offset by declines in other expense categories.
- Noninterest expense declined 6% contrast to the first quarter of 2014 due to declines in most expense categories and the sale of RidgeWorth Capital Administration in the second quarter of 2014.
- The efficiency and tangible efficiency ratios in the current quarter were 64.2% and 63.9%, respectively.
Balance Sheet
- Average total loans for the current quarter raised 4% contrast to the first quarter of 2014, while loan sales and transfers of loans to held-for-sale during the latter part of the preceding quarter resulted in stable average loans on a sequential quarter basis.
- Average client deposits raised 3% sequentially and 9% contrast to the first quarter of 2014.
SunTrust Banks, Inc. operates as the holding company for SunTrust Bank that provides various financial services in the United States. The company operates in three segments: Consumer Banking and Private Wealth Administration, Wholesale Banking, and Mortgage Banking.
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