CG Stocks Reports= Unilever N.V. (ADR) (NYSE:UN), BorgWarner Inc. (NYSE:BWA)

Unilever N.V. (ADR) (UN) operates through Personal Care, Foods, Refreshment, and Home Care segments. The Personal Care segment offers skincare and haircare products, deodorants, and oral care products. This segment markets its products under the Dove, Axe, Lux, Rexona, Sunsilk, Lifebuoy, Vaseline, Signal, Zendium, Dermalogica, Murad, Kate Somerville, and REN brand names. The Foods segment provides soups, bouillons, sauces, snacks, mayonnaise, salad dressings, margarines, and spreads under the Knorr, Hellmanns, Rama, Becel, Maille, Maizena, Fruco, Kissan, Bango, Ladys Choice, and Becel/Flora brands. The Home Care segment provides home care products, such as powders, liquids and capsules, soap bars, and various cleaning products under the brand names of Omo, Surf, Sunlight, Domestos, Comfort, and Pureit brands. The Refreshment segment offers ice cream and tea-based beverages under the Magnum, Heartbrand (Walls), Talenti, Ben & Jerrys, Cornetto, Grom, Lipton, and PG Tips brand names, in addition to operates T2 stores. The company was formerly known as Margarine Unie N.V. and changed its name to Unilever N.V. in 1929. Unilever N.V. was founded in 1927 and is based in Rotterdam, the Netherlands. Unilever PLC is a partner of The Unilever Group.

BorgWarner Inc. (BWA) recently stated fourth quarter and full year results.

Fourth Quarter Highlights:

  • U.S. GAAP net sales of $2,259 million, up 6.4% contrast with fourth quarter 2015.
    • Apart From the impact of foreign currencies and the net impact of Remy M&A, net sales were up 6.6% contrast with fourth quarter 2015.
  • Apart From the impact of foreign currencies and the net impact of Remy M&A, net sales were up 6.6% contrast with fourth quarter 2015.
  • U.S. GAAP net loss of $(1.39) per basic share.
    • Apart From the $(2.23) per diluted share related to non-comparable items mainly related to a non-cash asbestos-related charge of $(2.07) per share (detailed in the table below), net earnings were $0.85 per diluted share.
  • Apart From the $(2.23) per diluted share related to non-comparable items mainly related to a non-cash asbestos-related charge of $(2.07) per share (detailed in the table below), net earnings were $0.85 per diluted share.
  • U.S. GAAP operating loss of $(458) million.
    • Apart From the $742 million of pretax expenses related to non-comparable items, operating income was $284 million. Apart From the impact of non-comparable items, operating income was 12.6% of net sales.
  • Apart From the $742 million of pretax expenses related to non-comparable items, operating income was $284 million. Apart From the impact of non-comparable items, operating income was 12.6% of net sales.

Full Year Highlights:

  • U.S. GAAP net sales of $9,071 million, up 13.1% contrast to 2015.
    • Apart From the impact of foreign currencies and the net impact of Remy M&A, net sales were up 5.2% contrast with 2015.
  • Apart From the impact of foreign currencies and the net impact of Remy M&A, net sales were up 5.2% contrast with 2015.
  • U.S. GAAP net earnings of $0.55 per diluted share.
    • Apart From the $(2.72) per diluted share related to non-comparable items (detailed in the table below), net earnings were $3.27 per diluted share.
  • Apart From the $(2.72) per diluted share related to non-comparable items (detailed in the table below), net earnings were $3.27 per diluted share.
  • U.S. GAAP operating income of $226 million.
    • Apart From the $888 million of pretax expenses related to non-comparable items, operating income was $1,114 million. Apart From the impact of non-comparable items, operating income was 12.3% of net sales.
  • Apart From the $888 million of pretax expenses related to non-comparable items, operating income was $1,114 million. Apart From the impact of non-comparable items, operating income was 12.3% of net sales.

Full Year 2017 Guidance: The company has reaffirmed its 2017 full year guidance.  Full year net sales are expected to be $8.81 billion – $9.04 billion, implying organic sales growth of 3.5% to 6.0%. Foreign currencies are expected to lower sales by $320 million, because of the depreciation of the Euro, Yuan and Pound.  The sale of the Remy light vehicle aftermarket business will lower sales by about $235 million.  Net earnings are expected to be within a range of $3.35 to $3.45 per diluted share. Apart From the impact of non-comparable items, operating margin is expected to improve by 40 to 50 basis points.

First Quarter 2017 Guidance: The company has reaffirmed its 2017 first quarter guidance.  The company expected organic net sales growth of 2.5% to 6.5% contrast with first quarter 2016 net sales of $2.27 billion.  Foreign currencies are expected to lower sales by $60 million, or -2.7%.  The Remy light vehicle aftermarket sale will lower revenue by $70 million.  Net earnings are expected to be within a range of $0.81 to $0.85 per diluted share.

Financial Results: Net sales were $2,259 million in fourth quarter 2016, up 6.4% from $2,123 million in fourth quarter 2015. Net loss in the quarter was $(293) million, or $(1.39) per basic share, contrast with earnings of $125 million, or $0.56 per diluted share, in fourth quarter 2015.  Net loss in fourth quarter 2016 included non-comparable items of $(2.23) per diluted share. Net earnings in the fourth quarter 2015 included net non-comparable items of $(0.21) per diluted share.  These items are listed in a table below, which is offered by the company for comparison with other results and the most directly comparable U.S. GAAP measures. The impact of foreign currencies reduced net sales by about $40 million and reduced net earnings by about $0.02 per diluted share in fourth quarter 2016 contrast with fourth quarter 2015.

Full year 2016 net sales were $9,071 million, up 13.1% from $8,023 million in 2015. Full year 2016 net earnings were $119 million, or $0.55 per diluted share, contrast with $610 million, or $2.70 per diluted share, in 2015.  Full year 2016 net earnings included net non-comparable items of $(2.72) per diluted share. Full year 2015 included net non-comparable items of $(0.34) per diluted share. These items are listed in a table below as reconciliations of non-U.S. GAAP measures, which are offered by the company for comparison with other results, and the most directly comparable U.S. GAAP measures. The impact of foreign currencies reduced net sales by about $111 million and reduced net earnings by about $0.05 per diluted share in 2016 contrast with 2015.

 

 

 

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