Hot small cap: Up, up and away!
Helicopter services outfit CHC Group (NYSE:HELI) added more than a quarter to its market value as investors, once they had decoded the accountancy jargon, liked the look of its fiscal second quarter results.
Underlying earnings, or this new-fangled EBITDA with a bit of restructuring costs added in (so, EBITDAR) was flat year-on-year, excluding one-off items.
Old-fashioned post-tax profit was not a profit at all; it was a loss of US$42mln, and revenue decreased 13% year-on-year on a constant currency basis, but still investors got on board, probably because adjusted EBITDAR margin, excluding special items, improved 720 basis points year-over-year – that's 7.2 percentage points in layman's language.
"As we navigate through the current market downturn, we remain laser-focused on achieving cost savings, improving capital efficiency, and leveraging and growing our strong customer and OEM [original equipment manufacturing] relationships,” said Karl Fessenden, who is not only president of the company, but also chief executive officer.
I've got the power!
As the song has it, seems it never rains in southern California so if ever there was a city that could make use of solar power, San Diego is it.
SunEdison (NYSE:SUNE) certainly thinks so, after it sealed a 20-year power-purchase agreement with the city of San Diego that will see it build solar power generators across the city.
The shares were up almost 20%, enjoying a spell in the sun.
While sales growth was nothing to write home about, net income from continuing operations shot up to US$10.3mln from US$8.7mln the year before.
Wynn Resorts (NASDAQ:WYNN), up 13.5%. Investors the world over love it when senior executives buys shares in the company they are managing, and so it was with the chairman and chief executive officer bought one million shares in the open market.
Oxford Industries (NYSE:OXM), down 10.3%. Thomas Chubb, chairman and chief executive of Oxford, said the company “generally pleased” with the clothing company's third quarter results; the market was not. Net loss per share was eight cents, versus net earnings of 12 cents a share the year before.
The company revised its prior guidance for the year ending January 30, 2016. It now expects adjusted earnings per share (EPS) in a range of $3.53 to $3.63 on net sales in a range of $970 million to $985 million. Headline EPS is tipped to be in a range of $3.44 to $3.54, versus $3.27 the previous year.