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April 8, 2014
11:41 EDTUSTR, ODP, GPCUnited Stationers down after Genuine Parts unit wins Office Depot contract
Shares of United Stationers (USTR) are moving lower after Office Products International, a publication for the office products industry, reported yesterday that S.P. Richards confirmed it won the first-call wholesale business for Office Depot (ODP) in the U.S. United Stationers and S.P. Richards, a unit of Genuine Parts (GPC), are both suppliers to Office Depot. Shares of United Stationers are down 4% to $38.08 in morning trading. Shares of Genuine Parts are up 1% to $85.63.
News For USTR;ODP;GPC From The Last 14 Days
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October 31, 2014
16:03 EDTUSTRUnited Stationers acquisition of MEDCO seen accretive in first year
United Stationers announced that its wholly-owned subsidiary, United Stationers Supply Co., has completed the acquisition of Liberty Bell Equipment, a United States wholesaler of automotive aftermarket tools and supplies, and its affiliates including G2S Equipment de Fabrication et d'Entretien ULC, a Canadian wholesaler. MEDCO is North America's largest combined Paint, Body and Equipment and Tool & Equipment wholesaler in the automotive aftermarket. MEDCO annual sales are approximately $240M. United Stationers funded this acquisition through a combination of cash on hand and cash available under its revolving credit facility. The transaction is expected to be neutral to earnings in 2014 and accretive within the first year.
10:43 EDTGPCGenuine Parts management to meet with SunTrust
Meetings to be held on the West Coast November 4-5 hosted by SunTrust.
October 30, 2014
13:12 EDTODPOffice Depot management to meet with B. Riley
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October 22, 2014
16:24 EDTUSTRUnited Stationers reports Q3 EPS 98c, consensus 99c
Reports Q3 revenue $1.42B, consensus $1.34B.
October 20, 2014
11:32 EDTGPCGenuine Parts narrows FY14 EPS view to $4.56-$4.60 from $4.54-$4.60
Consensus is $4.60. Now sees FY14 total company revenue growth 8%, up from previous 7%-8% view, consensus is $15.18B. Now sees FY14 automotive revenue growth closer to 8% from 7%-8% view. Sees Q4 margins approaching 30% range, says has gradual expectation of margin expansion in 2015. Says focused on operating margin expansion. Sees interest expense $24M-$25M for FY. Sees FY tax rate in the 36% range. Says "comfortable" with cash position at September 30. Sees FY cash from operations $900M. Sees FY free cash flow $425M-$450M. Says first priority for cash is dividend; says will also use cash to repay debt, acquisitions, repurchases. Says will look to maintain dividend payout ratio ahead. Sees CapEx picking up further over balance of year. Says targeting bolt-on acquisitions in the $25M-$125M revenue range. Says expects to remain active in share buybacks. Comments made on the Q3 earnings conference call.
09:01 EDTODPOffice Depot stores now accept Apple Pay
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08:55 EDTGPCGenuine Parts reports Q3 EPS $1.24, consensus $1.24
Reports Q3 revenue $3.99B, consensus $3.93B.
October 17, 2014
14:19 EDTGPCGenuine Parts technical comments ahead of results
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