Colfax's Benefit Of The Doubt Has Deservedly Gone Away
Stephen Simpson, CFA
Stephen Simpson, CFA
Yesterday, 6:05 AM
Wed, Oct. 26, 5:30 PM
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Tue, Oct. 18, 11:55 AM
- SPX Flow’s (FLOW -4.1%) Q3 preliminary earnings miss is “clearly unfavorable” and points to the most downward risk for estimates for peers Flowserve (FLS -0.2%) and Colfax (CFX -0.2%), according to analysts at William Blair.
- FLOW yesterday issued downside Q3 guidance, seeing EPS of $0.30-$0.35 vs. $0.47 analyst consensus estimate, on revenues of $467M vs. $497M consensus; prior guidance was for EPS of $0.40-$0.50 and revenue of $490M-$510M.
- Q3 orders and backlog declined sequentially by 6% and 2%, respectively, primarily reflecting lower levels of original equipment orders in energy markets and lower orders for systems in food and beverage markets, which FLOW says has caused it to reassess Q4 expectations.
Thu, Jul. 28, 6:11 AM
Wed, Jul. 27, 5:30 PM
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Thu, Jun. 2, 8:17 AM
Tue, May 3, 6:00 AM
- Colfax (NYSE:CFX): Q1 EPS of $0.30 beats by $0.03.
- Revenue of $876.84M (-3.8% Y/Y) beats by $39.34M.
Mon, May 2, 5:30 PM
- ABMD, ACW, ADM, AFSI, ALE, ALLT, AMAG, AMG, APLP, AROC, ARRY, ARW, AUDC, BBW, BCC, BCO, CARB, CEQP, CFX, CIE, CLX, CMI, COTY, CVLT, CVS, DUK, ECA, ECL, EIGI, EL, EMR, EXAS, FDP, FIS, FMS, FSS, FTR, GLDD, GLT, GRUB, H, HAL, HCA, HCN, HEP, HOT, HRS, HSIC, HW, KEM, KMT, LXRX, MNK, MNTA, MYL, NI, NTI, NWN, NXST, NYT, OZM, PBI, PFE, Q, RDWR, RHP, RRD, S, SALE, SALT, SGNT, SMG, SSH, TAP, TECH, TICC, VLO, VMC, VSH, WAC, WCG, WEC, WLK, WNR, WNRL, WWW, XYL
Fri, Apr. 8, 5:40 PM
Fri, Apr. 1, 5:39 PM
Thu, Feb. 4, 11:07 AM
- Adjusted net income of $63M, or $0.51 per diluted vs. $89.7M, or $0.72 per diluted share in the same quarter a year ago.
- Gas- and fluid-handling orders decreased by 22.3 to $443M vs. $570.1M (an organic order decline of 18.8%).
- Gas- and fluid-handling finished the period with backlog of $1.1B.
- "While the demand environment remains weak in both business segments, we are on track to deliver the $100M in cost reductions from our 2014 cost base by the end of 2016," CEO Matthew Trerotola said. "Execution of cash conversion management was outstanding in the quarter."
- Q4 results
Thu, Feb. 4, 6:17 AM
- Colfax (NYSE:CFX): Q4 EPS of $0.51 beats by $0.08.
- Revenue of $1.06B (-12.4% Y/Y) beats by $40M.
Wed, Feb. 3, 5:30 PM
- ABC, ABG, ABMD, ARW, AZN, BCE, BCO, BR, BSX, BZH, CARB, CFX, CHTR, CI, CLX, CMI, CMS, COP, COTY, CRS, CS, CSL, CUB, DFT, DLPH, DNKN, EQM, EQT, GLPI, GRUB, HIMX, ICE, IT, ITG, KELYA, LQDT, LVLT, MD, MHFI, MHO, MMC, MMP, MMS, MSCI, MSG, NAO, NYT, ODFL, OXY, PBH, PM, PPL, PRLB, PTEN, RDS.A, RFP, RL, RSTI, SBH, SNA, SPH, SQNS, STRA, TDC, TDY, TE, TPX, UTEK, VLP, VMC, WEC, XYL
Oct. 14, 2015, 7:15 AM
- Adjusted net income of $29.5M, or $0.24 per diluted vs. $71.3M, or $0.57 per diluted share in the same quarter a year ago.
- Gas- and fluid-handling orders decreased by 17.6% to $444.2M vs. $539.4M (an organic order decrease of 12.5%).
- Gas- and fluid-handling finished the period with backlog of $1.3B.
- "Third quarter performance fell short of expectations," CEO Matthew Trerotola said. "By the end of 2016, we now expect to eliminate in excess of $100M from our cost structure and reduce the workforce by approximately 1,500."
- Q3 results
- CFX -5.2% premarket
Oct. 14, 2015, 6:18 AM
- Colfax (NYSE:CFX): Q3 EPS of $0.24 misses by $0.17.
- Revenue of $969.14M (-16.5% Y/Y) misses by $25.16M.
Oct. 5, 2015, 6:47 PM
- Barclays maintains a Neutral rating on the U.S. multi-industry sector due to a weaker emerging market outlook, higher emerging market foreign exchange risk and slower export markets, but initiates the firm's largest estimate cut since 2008 by downgrading five names within the sector.
- The firm cuts Eaton (NYSE:ETN), Rockwell Automation (NYSE:ROK), Rexnord (NYSE:RXN) and Tyco International (NYSE:TYC) to Equal Weight from Overweight, and downgrades Colfax (NYSE:CFX) to Underweight from Equal Weight.
- However, Barclays upgrades ADT Corp. (NYSE:ADT) to Equal Weight from Underweight, as the stock seems low enough to be considered fairly valued after a tough couple of years, and ADT's exposures to U.S. housing are "comfortable" vs. peers; the firm says its changed view on ADT is not a bullish upgrade, with long-term concerns related to rising technology threats such as home automation.