Universal Health Services julkaisi 3Q tuloksensa

Hupsista. UHS oli julkaissut tuloksensa jo 27.10 eli viime viikon maanantaina. Kurssi sulki edellisenä päivänä 108.4 dollariin ja on nyt 100.23 dollaria. Laskua 7.5%. Tulos oli siis pettymys ja sijoittajia taitaa hermostuttaa myös kongressivaalien tulos jonka republikaanit voittivat. Tuleeko riskiä Obamacaren purkamisesta tai laimentamisesta? Muutamia poimintoja tuloksesta koskien 3Q:ta:

  • Net revenues increased 11.1% to $2.02 billion during the third quarter of 2014 as compared to $1.82 billion during the third quarter of 2013.
  • Net income attributable to UHS was $82.8 million, or $.82 per diluted share, during the third quarter of 2014 as compared to $114.6 million, or $1.15
  • Included in our reported results during the three and nine-month periods ended September 30, 2014 was a pre-tax charge of $44.0 million incurred in connection with a previously disclosed legal settlement (as discussed below) as well as a pre-tax charge of $36.2 million resulting from the costs related to the extinguishment of debt in connection with the previously disclosed financing transactions that occurred during the quarter –> kertaluonteiset erät pilasivat siis hieman tulosta
  • For the three-month period ended September 30, 2014, our adjusted net income attributable to UHS, as calculated on the attached Schedule of Non-GAAP Supplemental Consolidated Statements of Income Information (“Supplemental Schedule”), increased approximately 26% to $137.5 million, or $1.36 per diluted share, as compared to $109.5 million, or $1.10 per diluted share, during the third quarter of 2013 –> kertaluonteiset erät poistettuna tulos kasvoi 26%

Vuoden kolmen ensimmäisen kvartaalin osalta:

  • Net revenues increased 8.7% to $5.96 billion during the first nine months of 2014 as compared to $5.48 billion during the comparable period of 2013
  • Reported net income attributable to UHS was $372.5 million, or $3.71 per diluted share, during the first nine months of 2014 as compared to $386.2 million, or $3.89 per diluted share, during the comparable period of 2013. 
  • For the nine-month period ended September 30, 2014, our adjusted net income attributable to UHS, as calculated on the attached Supplemental Schedule, increased approximately 23% to $429.8 million, or $4.28 per diluted share, as compared to $348.5 million, or $3.51 per diluted share, during the comparable period of 2013 –> kertaluonteiset erät poistettuna tulos kasvoi 23%

Omien osakkeiden osto-ohjelma on käynnistynyt: “During the third quarter of 2014, our Board of Directors authorized a stock repurchase program whereby, from time to time as conditions allow, we may spend up to $400 million to purchase shares of our Class B Common Stock on the open market or in negotiated private transactions.  In conjunction with this program, during the third quarter of 2014, we repurchased 226,692 shares at an aggregate cost of $25.2 million.“. Vasta runsas 5% valtuutuksesta on käytetty.

Osaketta on salkussa. Jos oletetaan että 4Q:lla tulee sama tulos kuin 3Q:lla eli 0.82 tulee koko vuoden tulokseksi 4.53 dollaria per osake. Nykyisellä 100 dollarin osakekurssilla tulee PE-luvuksi 22. Yahoo Financen mukaan PE luku on 2o eli koko vuoden tulokseksi tulisi 5 dollaria ja siis 4Q tulos olisi 1.29 dollaria. Noh, sen verran tulosta tuli 3Q:lla kertaluonteiset poislukien. Ensi vuodelle Yahoo Finance ennustaa PE:n olevan 15.6 eli tulos kasvaisi.

 

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