Resolute Forest Products Inc. (NYSE: RFP) (TSX: RFP) today reported a net loss for the quarter ended March 31, 2015, excluding special items, of $30 million, or $0.32 per share, compared to a net loss, excluding special items, of $26 million, or $0.27 per share, in the same period in 2014. Sales were $920 million in the quarter, down $96 million, or 9%, from the first quarter of 2014. GAAP net loss was $33 million, or $0.35 per share, compared to a net loss of $50 million, or $0.53 per share, in the first quarter of 2014.
Result for the first quarter of 2015 • Sales were EUR 525.7 million (Q1/2014: 501.2). • Operating result excluding non-recurring items was EUR 43.2 million (36.1). Operating result including non-recurring items was EUR 43.1 million (43.5). • Result before taxes excluding non-recurring items was EUR 32.3 million (20.8). Result before taxes including non-recurring items was EUR 32.2 million (26.0).
Sales of $910 million (compared to $879 million in Q4 2014 (+4%) and $863 million in Q1 2014 (+5%)) Excluding specific items *OIBD of $85 million (compared to $82 million in Q4 2014 (+4%) and $75 million in Q1 2014 (+13%)) *Net earnings per share of $0.18 (compared to $0.08 in Q4 2014 and $0.01 in Q1 2014) *Greenpac contribution to net earnings: $0.03 Including specific items *OIBD of $72 million (compared to $57 million in Q4 2014 (+26%) and $79 million in Q1 2014 (-9%)) *Net loss per share of $0.37 (compared to $0.51 in Q4 2014 and $0.01 in Q1 2014)
Highlights: * First-quarter net sales of $2.7 billion grew 2.7% from the first quarter of 2014; organic net sales grew 0.1% from the first quarter of 2014 * First-quarter GAAP net earnings attributable to common shareholders of $22.3 million, or $0.11 per diluted share, compared to GAAP net loss attributable to common shareholders in the first quarter of 2014 of $29.0 million, or $0.15 per diluted share * First-quarter non-GAAP net earnings attributable to common shareholders of $51.9 million, or $0.26 per diluted share, compared to non-GAAP net earnings attributable to common shareholders in the first quarter of 2014 of $59.7 million, or $0.31 per diluted share * Company reiterates full-year 2015 guidance and commitment to continue to migrate toward its targeted gross leverage range of 2.25x to 2.75x on a long-term sustainable basis
L Brands, Inc. (NYSE: LB) reported net sales increased 1% to $724.6 million for the four weeks ended May 2, 2015, compared to net sales of $717.6 million for the four weeks ended May 3, 2014. Comparable store sales for the four weeks ended May 2, 2015, decreased 1% and were negatively impacted by the earlier Easter this year by approximately 5 points.
US commercial printing shipments had another good month in March, up +4.8% compared to 2014 in current dollars. For nine of the last 10 months the comparison to the prior year has been positive, averaging +3%. It is possible that commercial printing shipments have found a level of stability after many years. About 10 years ago, when there was also a period of relative stability in printing shipments, current dollar monthly shipments were in the range of $8 billion, and are now averaging $6.5 billion. On an inflation-adjusted basis, monthly shipments averaged about $9.7 billion in monthly shipments at that time.
Bertelsmann, the international media, services and education company, increased its revenues and achieved a significant growth in operating result in the first quarter of 2015. Group revenue increased to €3.92 billion (previous year: €3.90 billion) despite the disposal of several structurally declining businesses. Operating EBITDA was up by 6.7 percent to €463 million (previous year: €434 million). This increase was driven chiefly by book publishing, the German-language TV business, and the expansion of the education sector. The EBITDA margin grew from 11.1 to 11.8 percent. Group net income increased significantly, rising to €143 million (previous year: €106 million).
Crude oil futures prices today eased by 0.38 per cent to Rs 3,960 per barrel largely in tandem with a weak trend in the Asian trade. The oil for May delivery contracts moved down by Rs 14, or 0.36 per cent to Rs 3,868 per barrel in a volume of 1,691 lots.
Costco Wholesale Corporation (NASDAQ: COST) today reported net sales of $8.75 billion for the month of April, the four weeks ended May 3, 2015, an increase of two percent from $8.56 billion during the similar period last year. This year's sales reflects one additional sales day than last year, due to the timing of the Easter holiday. This calendar shift positively impacted this year's net and comparable sales by an estimated one and one-half to two percent.
Net Sales of $475.1 million Operating Income of $18.2 million in Q1 2015, up 80.6% from Q1 2014 Adjusted EBITDA of $38.7 million in Q1 2015, up 5.2% from Q1 2014 Extinguished $22.6 million of the 11.5% Notes year to date, $15.8 million during Q1 2015