New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
March 13, 2014
12:03 EDTHELICHC Group falls after issuing first earnings report since IPO
Shares of commercial helicopter operator CHC Group are tumbling after the company gave its first earnings report since its initial public offering in January. WHAT'S NEW: Last night, CHC Group reported third quarter adjusted losses per share of 32c, which was better than analysts' consensus expectation of 40c per share in losses. The company reported third quarter revenue of $453.9M, which was below analysts' consensus of about $473M. CHC Group anticipates FY14 revenue to be flat to slightly up from FY13. Analyst had forecast FY14 revenue of $2.04B for the company prior to its report. CHC sees its FY14 adjusted EBITDAR, or earnings before interest, taxes, depreciation, amortization and aircraft rental costs, excluding special items, to be flat to slightly down, reflecting the negative effect of the suspension and subsequent return to service of EC225 aircraft. WHAT'S NOTABLE: On January 17, CHC Group priced its initial public offering of 31M shares at $10 per share. The shares opened for trading that day at $9.30. ANALYST REACTION: In a note to investors following CHC's report, Wells Fargo lowered its estimates for the company's FY14 FY15 earnings and reduced its price target range on the stock to $11-$13 from $12-$14. However, Wells Fargo said it believes that helicopter demand will withstand headwinds from drilling rig utilization and that concern over the supply/demand balance in the helicopter market is currently being overestimated by investors. The firm maintains its Outperform rating on CHC Group. PRICE ACTION: Near noon, shares of CHC Group were down 38c, or 4.27%, to $8.52.
News For HELI From The Last 14 Days
Check below for free stories on HELI the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
September 8, 2014
16:10 EDTHELICHC Group says not in position to update prior guidance
Subscribe for More Information
16:08 EDTHELICHC Group reports Q1 EPS (46c), consensus (47c)
Reports Q1 revenue $461M, consensus $448.4M.
15:27 EDTHELINotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Casey's General Stores (CASY), consensus $1.24; Korn/Ferry (KFY), consensus 40c; NCI Building (NCS), consensus 9c; Triangle Petroleum (TPLM), consensus 16c; FuelCell Energy (FCEL), consensus (3c); CHC Group (HELI), consensus (47c).

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the disclaimer & terms of use