Alpha Gen Capital
Oct. 13, 2015, 7:27 PM
- Though Blackhawk Network (NASDAQ:HAWK) beat FQ3 estimates, it guided in its earnings slides (.pdf) for FQ4 adjusted operating revenue of $365M-$385M (+17%-23% Y/Y) and EPS of $1.18-$1.26, largely below a consensus of $398.4M and $1.25.
- The prepaid/gift card vendor states lower pass-through marketing revenue is mostly responsible for the revenue forecast. Shares have fallen to $42.11 after hours.
- FQ3 results, PR
Jul. 21, 2015, 5:40 PM
Sep. 25, 2014, 9:17 AM
Mar. 6, 2014, 5:10 PM
- As rumored, Supermarket chain owner Albertsons, controlled by an investor group led by P-E firm Cerberus, is acquiring Safeway (SWY). Investors are unhappy with the specific deal terms. (PR)
- Albertson's will pay $32.50/share in cash, distribute proceeds from the sale of Safeway's real estate subsidiary assets and Casa Ley stake (estimated value of $3.65/share), and distribute Safeway's 37.8M Blackhawk Network (HAWK) shares (current value of $3.95/share).
- The deal is expected to close in Q4, has a $400M termination fee, and comes with a 21-day go-shop period. Albertsons plans to fund the deal with the help of $7.6B in debt financing.
Feb. 20, 2014, 12:47 PM
Feb. 19, 2014, 5:37 PM
Feb. 19, 2014, 4:18 PM
- In tandem with its Q4 results, Safeway (SWY) announces it's "in discussions concerning a possible transaction involving the sale of the company."
- The company also says it's exploring options for monetizing its 49% stake in Mexican grocery store chain Casa Ley, and has decided to distribute its 37.8M-share, 72.2% stake in Blackhawk Network (HAWK) to shareholders. Blackhawk shares are down 1.2% AH.
- Q4 results, PR
- Previous: Safeway reportedly open to talks with P-E firms
Oct. 10, 2013, 9:12 AM
- Blackhawk Network (HAWK): Q3 EPS of $0.08 beats by $0.03.
- Revenue of $206M (+25% Y/Y) misses by $4.94M. Shares -1.2% premarket. (PR)
May 2, 2013, 9:15 AM
Apr. 19, 2013, 11:50 AM
Gift card seller Blackhawk Network (HAWK) delivers a solid IPO. After pricing its 10M-share offering at $23, above a range of $20-$22, the Safeway (SWY -0.5%) unit opened at $25 and is currently trading at $25.62, up 11.4%. That gives Blackhawk, which sells cards via a network of 100K+ retail locations and supports top brands such as Apple, Visa, and Starbucks, a market cap of $1.33B. Blackhawk posted 2012 revenue of $959.1M (+28% Y/Y), and net income of $48.2M. Safeway now owns 81% of the company. (S-1)| Apr. 19, 2013, 11:50 AM