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Stock Market & Financial Investment News

News Breaks
February 17, 2014
18:15 EDTDRCDresser-Rand says two items included in Q4 outlook did not occur
Dresser-Rand is updating its guidance based on its preliminary and unaudited results for Q4. The company noted two items previously discussed in its Q3 earnings call and that were included in its guidance for Q4 that did not occur. First, it did not sell the three photovoltaic power plants to MBB Clean Energy AG. Second, the company was unable to recognize revenue in Q4 on its shipment of equipment for a pipeline project in Central Asia due to pending contractual and administrative matters. The impact of these two items is approximately $19M of operating income. If these two items had occurred in Q4, the company believes its operating income for 2013 would have been between $400M-$410M. Further, if there is no material change in the status of the proposed Spanish regulation before the company files its Form 10-K, the company will be required to reduce its 2013 operating income by up to an estimated $75M. In that event, its 2013 operating income could be between approximately $306M-$316M.
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September 16, 2014
16:28 EDTDRCDresser-Rand initiated with a Buy at KeyBanc
Target $80.

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