Earnings Briefing and Notes - Leucadia National
LONDON, March 27, 2015 /PRNewswire/ --
Editor Note: For more information about this release, please scroll to bottom.
Investor-Edge.com has issued free earnings notes on Leucadia National Corp. (NYSE: LUK). On February 27, 2015, the company reported its financial results for Q4 FY14 and full year FY14 (period ended December 31, 2014). Click on http://get.Investor-Edge.com/pdf/?c=Leucadia%20National&d=27-Mar-2015&s=LUK to read our free earnings review on Leucadia National Corporation (Leucadia). During Q4 FY14 and full-year FY14, the company's net revenues came in at $2.69 billion and $11.49 billion, respectively. Further, net income attributable to Leucadia's common shareholders was $204.31 million, or $0.54 per diluted share, for full-year FY14. Our free coverage report can be accessed at:
http://get.Investor-Edge.com/pdf/?c=Leucadia%20National&d=27-Mar-2015&s=LUK
Earnings Overview
During Q4 FY14, Leucadia's net revenues fell by $232.47 million from $2.92 billion in Q4 FY13. Additionally, Leucadia reported loss from continuing operations of $14.04 million in Q4 FY14 compared to income from continuing operations of $1.18 million in Q4 FY13. Free research on LUK can be downloaded in PDF format at:
http://get.Investor-Edge.com/pdf/?c=Leucadia%20National&d=27-Mar-2015&s=LUK
For Q4 FY14, net loss attributable to Leucadia's common shareholders stood at $9.76 million, or $0.03 loss per diluted share, compared to net income attributable to Leucadia's common shareholders of $8.55 million, or $0.02 per diluted share, in Q4 FY13. Further, the consolidated Q4 FY14 results include a charge of $52.3 million, or $41.0 million net of tax, recorded by Jefferies, a wholly owned subsidiary of Leucadia, in the reported quarter for a bad debt provision in respect to a receivable from a Bache customer, OW Bunker.
Leucadia repurchased 704,806 shares in Q4 FY14 at an average price of $21.55 per share. Furthermore, the company made a number of follow-on investments in some of its existing businesses in Q4 FY14: purchasing additional shares in Harbinger for $64.5 million, bringing its ownership to about 23%, and investing a further $37.5 million to expand Garcadia's auto dealerships. The company also invested $78.4 million in its subsidiary Juneau Energy that leases and develops oil and gas properties in Texas and Oklahoma, bringing net book value for that investment to $175.8 million.
In FY14, Leucadia's net revenues increased by $1.06 billion from $10.43 billion in FY13. Furthermore, the company's income from continuing operations came in at $215.25 million in FY14 compared to $409.10 million in FY13. Sign up and read the free analyst's notes on LUK at:
http://get.Investor-Edge.com/pdf/?c=Leucadia%20National&d=27-Mar-2015&s=LUK
During FY14, net income attributable to Leucadia's common shareholders fell by $164.93 million, or $0.52 per diluted share, from $369.24 million, or $1.06 per diluted share, in FY13. The company's full-year FY14 results included $116.6 million of after-tax charges, consisting of losses related to the discontinued Lake Charles clean energy project and costs associated with two lawsuits which the company has either settled or has an agreement in place to settle. The above mentioned charges reduced FY14 net income by a total of $157.6 million, or $0.42 per diluted share.
As of December 31, 2014, Leucadia's book value per share was $28.03.
In January 2015, the company invested $300 million in FXCM (Forex Capital Markets) to rescue the online provider of foreign exchange trading and related services, which had experienced significant losses after Swiss National Bank scrapped its three-year old peg of 1.20 Swiss francs per euro.
On February 27, 2015, the company's Board of Directors declared a quarterly cash dividend equal to $.0625 per Leucadia's common share payable on March 27, 2015 to record holders of Leucadia's common shares on March 16, 2015. Visit Investor-Edge and access the latest research on LUK at:
http://get.Investor-Edge.com/pdf/?c=Leucadia%20National&d=27-Mar-2015&s=LUK
Stock Performance
On the day of the earnings release, February 27, 2015, Leucadia's stock edged 0.17% lower to end the session at $23.73. Since then, the stock has moved both ways. On the last close, Thursday, March 26, 2015, the company's shares finished at $22.25 which is 1.90% below their previous day's closing price of $22.68. The stock vacillated between $22.24 and $22.70 during the session. A total of 1.49 million shares were traded which was above their three months average volume of 1.45 million shares. Over the last one month and over the past three months, the company's shares have fallen by 6.39% and 0.71%, respectively. Further, the stock has lost 17.04% in the past one year. Shares in Leucadia are trading below their 50-day and 200-day moving averages of $23.27 and $23.99, respectively. Additionally, the stock traded at a PE ratio of 30.58 and has a Relative Strength Index (RSI) of 39.21.
Sneak Peek to Corporate Insider Trading
In the last one month, Leucadia has not reported any share transactions by insiders to the U.S. Securities and Exchange Commission (SEC). Complimentary in-depth research on LUK is available at:
http://get.Investor-Edge.com/pdf/?c=Leucadia%20National&d=27-Mar-2015&s=LUK
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