M. Castle & Co (NYSE:CAS)’s shares dropped -35.98%, and closed at $3.22, hitting new 52-week high of $15.20, during the last trading session, soon after the news release that a specialty metals and plastics distribution company, stated financial results for the fourth quarter and year ended December 31, 2014.
Merged net sales were $231.5 million for fourth quarter 2014 contrast to $233.2 million in fourth quarter 2013 and $245.5 million in third quarter 2014. The Company reported a fourth quarter 2014 net loss of $39.1 million, or a net loss of $1.67 per diluted share. Fourth quarter 2013 net loss was $12.6 million, or a net loss of $0.54 per diluted share, and third quarter 2014 net loss was $7.3 million, or a net loss of $0.31 per diluted share. Adjusted non-GAAP net loss for fourth quarter 2014 was $38.5 million contrast to adjusted non-GAAP net loss of $13.5 million in fourth quarter 2013. The Company reported a fourth quarter 2014 EBITDA loss of $14.3 million, contrast to EBITDA of $0.3 million in fourth quarter 2013. Fourth quarter 2014 adjusted EBITDA loss was $13.7 million contrast to adjusted EBITDA of $0.4 million in fourth quarter 2013. Fourth quarter 2014 results were negatively influenced by $8.2 million of provisions for inventory reserves and $2.9 million of other expense related to foreign currency transaction losses. Fourth quarter 2013 results comprised of $1.6 million of provisions for inventory reserves and $0.5 million of foreign currency transaction losses.
M. Castle & Co., together with its subsidiaries, operates as a specialty metals and plastics distribution company. The company operates through two segments, Metals and Plastics. The Metals segment distributes engineered specialty grades and alloys of metals, in addition to provides specialized processing services.
Potbelly Corp (NASDAQ:PBPB), declined -8.51%, and closed at $13.44, hitting new 52-week high of $21.60, after the following news that the company declared that Charles Talbot, Chief Financial Officer, will be leaving Potbelly to accept a senior leadership position with another company outside of the restaurant industry. Mr. Talbot will continue to serve as Potbelly’s CFO, while an external search is underway, until his departure on March 27, 2015.
Aylwin Lewis, Chairman and Chief Executive Officer of Potbelly, commented, “We are grateful for Charlie’s leadership during his tenure as Potbelly’s Chief Financial Officer. Charlie has been an integral part of the Potbelly team and has made invaluable contributions as we transitioned from a private company to a successful public company. He has been instrumental in establishing our solid financial standing and building the financial infrastructure of the Company. Charlie will stay on with us through March as we transition to a new Chief Financial Officer. We wish Charlie all the best in his future endeavors.”
Potbelly Corporation is a fast growing neighborhood sandwich concept offering toasty warm sandwiches, signature salads and other fresh menu items served by engaging people in an environment that reflects the Potbelly brand. Our Vision is for our customers to feel that we are their “Neighborhood Sandwich Shop” and to tell others about their great experience. Our Mission is to make people really happy and to improve every day.
CST Brands Inc (NYSE:CST), dipped -5.41%, and closed at $41.63, hitting new 52-week high of $45.25, soon after the news release that a retailer of transportation fuels and convenience goods in North America, stated financial results for the fourth quarter and year ended December 31, 2014.
Review of 2014:
CST made several notable achievements in 2014, counting planned ally important attainments, executing on its network optimization plan and ongoing to focus on organic growth, with new store expansion focused on its new, larger store format that is centered on broader merchandise and food service offerings. Last summer, CST made headlines with the purchase of the membership interests in the general partner and the incentive distribution rights of Cross America. The deal provides a growth vehicle for future expansion with an already-in-place infrastructure for the kept on development and maintenance of the wholesale fuel supply business and potential third-party attainments. The Company closed the year with the joint purchase with Cross America of New York State-based Nice N Easy Grocery Shoppes, a chain of 32 company-operated and 45 franchised stores. The attainment provided entry into a new geographical territory for CST together with stores that have well established food and grocery programs.
Three Months Results:
For the three month period ended December 31, 2014, the Company reported net income of $94 million, or $1.21 per diluted share, primarily driven by a noteworthy raise in motor fuel gross profit during the quarter. Net income was $34 million, or $0.44 per diluted share, for the comparable period in 2013. Comprised of in net income are asset impairment charges, attainment expenses, legal expenses and professional fees of $5 million, net of tax, and a gain on the sale of assets of $20 million, net of tax, for the three month period ended December 31, 2014.
CST Brands, Inc., through its subsidiaries, operates as an independent retailer of motor fuel and convenience merchandise items in the United States and Canada. The company sells motor fuel at convenience stores, dealers/agents, and card locks; convenience merchandise items and services at convenience stores; and heating oil to residential customers, and heating oil and motor fuel to small commercial customers.
H&E Equipment Services, Inc (NASDAQ:HEES), decreased -9.00%, and closed at $24.48, hitting new 52-week high of $42.38, soon after the news release that the company declared results for the fourth quarter and year ended December 31, 2014.
FOURTH QUARTER 2014 HIGHLIGHTS:
- Incomes raised 14.7% to $297.8 million as compared to $259.6 million a year ago.
- Net income was $16.7 million in the fourth quarter contrast to $14.6 million a year ago, a raise of $2.1 million, or 14.2%, from a year ago. The effective income tax rate rose to 40.4% contrast to 31.1% a year ago.
- EBITDA raised 22.8% to $87.1 million from $70.9 million, yielding a margin of 29.2% contrast to 27.3% a year ago.
- Rental incomes raised 22.6%, or $20.4 million, to $110.8 million due to a larger fleet, higher utilization and improved rates contrast to a year ago. New equipment sales raised 12.0% to $87.2 million from $77.8 million a year ago.
- Parts and service incomes in the fourth quarter raised 16.6% to $46.5 million from $39.8 million last year on a combined basis.
- Gross margin was 31.9% as contrast to 31.5% a year ago.
- Average time utilization (based on original equipment cost) was 72.4% contrast to 71.9% a year ago and 74.1% in the third quarter of 2014. Average time utilization (based on units accessible for rent) was 67.4% contrast to 66.0% last year and 68.3% last quarter.
H&E Equipment Services, Inc. operates as an integrated equipment services company. The company rents, sells, and provides parts and service support for hi-lift or aerial work platform equipment, crane, earthmoving equipment, and industrial lift truck categories. It offers heavy construction and industrial equipment for rent on a daily, weekly, and monthly basis.




