AbbVie (ABBV) reported earnings on Fri 26 Jan 2018 (b/o)

• Jan 25:  #97

** charts before earnings **

 

** charts after earnings **

AbbVie beats by $0.05, beats on revs; raises FY18 EPS guidance following tax reform

• Reports Q4 (Dec) earnings of $1.48 per share, excluding non-recurring items, $0.05 better than the Capital IQ Consensus of $1.43; revenues rose 13.9% year/year to $7.74 bln vs the $7.53 bln Capital IQ Consensus. 
• Global HUMIRA sales increased 14.0 percent on a reported basis, or 12.3 percent operationally, excluding a 1.7 percent favorable impact from foreign exchange. In the U.S., HUMIRA sales grew 15.1 percent in the quarter. Internationally, HUMIRA sales grew 6.5 percent, excluding a 5.2 percent favorable impact from foreign exchange.
• Co issues raised guidance for FY18, sees EPS of $7.33-7.43 from $6.37-6.57, excluding non-recurring items, vs. $6.66 Capital IQ Consensus Estimate.
• Co reflects the impact of U.S. tax reform and stronger operating performance. The midpoint of this guidance reflects year-over-year growth of 32 percent, more than half of which is driven by growth in the underlying business. Relative to the previously issued 2018 guidance provided in October 2017, this guidance includes an increase of $0.08 as a result of stronger operating dynamics. AbbVie's adjusted EPS guidance range reflects an effective tax rate of approximately 9 percent in 2018.
• In 2018, AbbVie will experience a one-time net tax benefit related to the timing of the phase in of provisions of the new legislation on certain subsidiaries. This benefit has been excluded from the adjusted EPS guidance, and included in the GAAP guidance range.
• Over the next five years, AbbVie plans to invest approximately $2.5 billion in capital projects in the U.S. and the company is currently evaluating additional expansion of its U.S. facilities. Also, in 2018, the company plans to make a one-time charitable contribution of approximately $350 million to select not-for-profit organizations based in the United States. 

=resTORbio (TORC) started trading on the Nasdaq on 26 Jan 2018

resTORbio, Inc., a clinical-stage biopharmaceutical company, focuses on the development and commercialization of novel therapeutics for the treatment of aging-related diseases primarily in the United States.


Full Time Employees: 21
Founded in 2016
Headquartered in Boston, Massachusetts
http://www.restorbio.com

Valuation at IPO $410M
Amount Raised $85M

ARMO BioSciences (ARMO) began trading on the Nasdaq on Fri 26 Jan 18

ARMO BioSciences is a late-stage immuno-oncology company that is developing a pipeline of novel, proprietary product candidates designed to activate the immune system of cancer patients to recognize and eradicate tumors.

ARMO BioSciences priced its initial public offering of 7,529,412 shares of its common stock at a price to the public of $17.00 per share for total gross proceeds of approximately $128.0 million.

Gates Industrial (GTES) began trading on the NYSE on 25 Jan 2018

Sector: Industrials
Industry: Diversified Industrials
Full Time Employees: 14,200
HQ: Denver, Colorado
Russell 1000 Component
Website www.gates.com
Offer price: $19
Offer size: $41 million

 

Shell Midstream Partners (SHLX) increases quarterly distribution to $0.333/unit

• Shell Midstream Partners increases quarterly distribution to $0.333/unit from $0.318/unit

 

=FTD Cos (FTD) : 4-year performance

FTD Companies, Inc.(Florists' Transworld Delivery) is a floral wire service, retailer and wholesaler based in Downers Grove, Illinois, in the United States.
ftd.com

Description

FTD Companies, Inc. (FTD) is a floral and gifting company. The Company operates through four segments: Consumer, Florist, International and Provide Commerce. Through its Consumer segment, FTD is a direct marketer of floral and gift products for consumers, primarily in the United States and Canada. Through its Florist segment, the Company is a provider of products and services to its floral network members, which include traditional retail florists and other non-florist retail locations, primarily in the United States and Canada. Its International segment consists of Interflora, which operates primarily in the United Kingdom and the Republic of Ireland. Through its Provide Commerce segment, FTD is a direct marketer of floral and gift products, including specialty foods, personalized gifts and other gifting products for consumers, primarily in the United States. Its portfolio of brands includes ProFlowers, ProPlants, Flying Flowers, Flowers Direct, Ink Cards, Postagram, and Gifts.com.

Key stats and ratios

	Q3 (Sep '17)	2016
Net profit margin	-47.31%	-7.41%
Operating margin	-58.05%	-7.20%
EBITD margin	-	8.92%
Return on average assets	-34.69%	-7.98%
Return on average equity	-72.54%	-17.42%
Employees	1,528

ADT is planning a $2 billion IPO

ADT’s private-equity owner, Apollo, will continue to own most of the company’s shares after its return to the public market

The Boca Raton, Fla.–based ADT is planning to offer 111.1 million shares priced at $17 to $19, to raise about $2 billion at the midpoint of the estimated range. The company is planning to list on the New York Stock Exchange under the ticker symbol “ADT.”

Morgan Stanley, Goldman Sachs, Barclays, Deutsche Bank, RBC, Citigroup, Bank of America Merrill Lynch and Credit Suisse are joint bookrunning managers on the deal, with eight other firms acting as co-managers. The deal is expected to price next week, according to data firm Ipreo.

Proceeds will be used to redeem debt, as well for the catchall “general corporate purposes,” which includes growth initiatives, according to ADT.

Apollo Global Management APO, +0.14%  , which took the company private in February 2016 in a $6.9 billion leveraged buyout, will continue to own the majority of the shares, making ADT a “controlled company” under NYSE rules. That means Apollo continues to call the shots.

It has roots in the 19th century
ADT was created in 1874 as American District Telegraph, harnessing what was the leading communications technology of the time. From there, the company advanced to the call box, a system that allowed signals to be transmitted by a watchman to alert the police, say, or the fire department of the need for assistance. In the 1900s, the company came under the control of AT&T (T), starting its switch to the signal business that was the first iteration of its security service. In 1940, it introduced the ultrasonic burglar alarm along with a fire-detection system. In 1969, the company went public for the first time on the NYSE.

It’s a big player in its market
ADT, which has grown through acquisitions, including most recently of Protection One and ASG, describes itself as the leading provider of security and monitoring services in the U.S. and Canada. The company estimates that it’s about five times bigger than the next largest residential alarm competitor, Vivint Home Security, measured by revenue, with a roughly 30% market share.

The company may have exposure to a surprising liability

One of the risk factors mentioned in the prospectus is the company’s liability for obligations of the Brink’s Co., thanks to its acquisition of a business formerly owned by Brink’s called Broadview Security. That business is subject to the Coal Industry Retiree Health Benefit Act of 1992, meaning it must cover the costs of health-care coverage for retired workers suffering from coal-related ailments.

Brink’s has created a Voluntary Employee’s Beneficiary Association trust to cover those liabilities, and Brink’s has agreed to indemnify the business for any and all liabilities stemming from its former coal operations. However, if Brink’s and the trust “are unable to satisfy all such obligations, we could be held liable, which could have a material adverse effect on our financial condition, results of operations and cash flows,” says the prospectus.

Liberty Oilfield Services (LBRT) began trading on the NYSE on 12 January 2018

Fracking contractor raises $194.5 million with a market value of $2.6 billion

• Founded: 2016
• HQ: Denver, CO
• libertyfrac.com
• 12.73 million shares at $17 

Description

Liberty Oilfield Services Inc is a United States-based oilfield service company company. The Company focused on offering hydraulic fracturing, and engineering services. Its aim is to provide frac design and execution with a real-data focus to optimize field development and improve production enhancement strategies for its clients. The Company provides its services primarily in the Permian Basin, Denver-Julesburg Basin, the Williston Basin and the Powder River Basin. The Company’s fleets offer the custom fluid systems, perforating strategies and pressure analysis techniques.

Key stats and ratios

	Q3 (Sep '17)	2016
Net profit margin	14.41%	-16.16%
Operating margin	15.16%	-14.52%
EBITD margin	-	-4.20%
Return on average assets	32.73%	-16.17%
Return on average equity	67.71%	-33.36%
Employees	1,859

Norwegian Cruise Line (NCLH) abandons NASDAQ for NYSE

  

e.l.f. Beauty (ELF) reaffirms prior FY17 EPS and revenue guidance

 

e.l.f. Beauty reaffirms prior FY17 EPS and revenue guidance

Co guides to FY17 sales of $270 mln, in-line with CapitalIQ consensus of $270.2 mln. Co guides to FY17 adjusted EPS of $0.55 vs $0.56 consensus.

• 2016-2019 Growth Algorithm: Reflecting current category trends, co is updating the compound annual growth rates included in its growth algorithm. Co now expects a compound annual net sales and Adjusted EBITDA growth rate of 10-15% from fiscal 2016 to 2019.