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During the IPO season Francis Gaskins, editor of IPOdesktop.com, regularly appears on CNBC TV, Bloomberg, thestreet.com & other financial cable channels. On the day of the Visa IPO he appeared on four cable TV financial shows including Bloomberg & CNBC. Over the past five years he has... More
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  • Goldman nails investors on behalf of PE clients, Metals USA IPO is an example 1 comment
    Apr 9, 2010 12:09 PM | about stocks: MUSA, RS, CAS, ZEUS, GS
    Metals USA's PO is a clear example of Goldman putting PE relationships ahead of investors.  PE firms have a lot of companies preparing to IPO -- a cash register for Goldman. 

    So anytime Goldman does an IPO for a PE firm investors should be wary, especially of Goldman's 'pre-IPO' buzz.

    see IPOreport updated with MUSA's IPO price



    Disclosure: none
    Themes: IPO, IPOs Stocks: MUSA, RS, CAS, ZEUS, GS
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    This from the CEO’s comments today in the 3Q conference call. Who by the way, while on the call was very adamant as to how MUSA managed to do so well this past quarter. And the PE the market is currently treating MUSA with is utterly ridiculous. He seemed actually mad in his speaking tone about this. I think he is justified in his sentiment based upon the growth MUSA has exhibited in it’s recent acquisitions within the space. I also took note how he was very stern and repetitive towards the 3 analyst who were on the call (GS, JMP, JEF). Who all congratulated him on a ‘beat’ on earnings this Q. I am expecting an upgrade or two in the net few days from someone beside myself.

    The cash flow machine created here will be paying off and down acquisition debt here in no time.

    *YOY a 25% increase in shipping tonnage

    *43% improvement in revenues

    *70% improvement in EBITDA

    *188% net income increase YOY
    Net sales for the third quarter of 2011 were $492.3 million, up 43% from net sales of $345.3 million for the third quarter of 2010. Net income for the third quarter of 2011 was $16.7 million compared to net income of $5.8 million for the third quarter of 2010. Earnings per diluted share (“EPS”) were $0.45 in the third quarter of 2011 compared to $0.16 for the third quarter of 2010.

    Net sales for the first nine months of 2011 were $1,430.2 million, up 48% from net sales of $968.2 million for the first nine months of 2010. Net income for the first nine months of 2011 was $50.6 million compared to net income of $8.4 million for the nine months ended September 30, 2010. EPS was $1.36 in the first nine months of 2011 compared to $0.26 for the first nine months of 2010.

    I’m a ‘committed, shares in strong hands’ LONG here! And very bullish on this company here today at $10. I owned the stock higher from here but did some good ‘blood in the streets’ buying in August to dollar cost average down to a nice avg that is well above water now. But frankly, that lack of them NOT doing the same opportunistic buying (and them as insiders and me as only Average Joe Investor) bothers me some. They need to put up some money and do some buying for me to commit more capital to my investment here. But what I do own I feel is going to make a lot of money here!


    Here is the link to conference call >

    http://bit.ly/oMg8ZY


    http://seekingalpha.co...
    22 Oct 2011, 08:46 PM Reply Like
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