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Embraer Earnings Results for 2nd Quarter 2019

August 15, 2019 / WIL BALDWIN

HIGHLIGHTS

• Embraer delivered 26 commercial and 25 executive (19 light and 6 large) jets during 2Q19, compared to 28 commercial jets and 20 executive (15 light and 5 large) jets in 2Q18

• The Company’s firm order backlog at the end of 2Q19 was US$ 16.9 billion, up from the US$ 16.0 billion reported at the end of 1Q19. Embraer achieved book-to-bills of above 1x in each of its major business units during the quarter, led by sales performance in the Executive Jets segment

• EBIT and EBITDA in 2Q19 were US$ 26.6 million and US$ 67.0 million, respectively, yielding EBIT margin of 1.9% and EBITDA margin of 4.9%. In the first six months of 2019 the Company’s EBIT was US$ 11.4 million (EBIT margin of 0.5%) and EBITDA was US$ 97.9 million (EBITDA margin of 4.4%)

• 2Q19 Net income attributable to Embraer shareholders and Earnings per ADS were US$ 7.2 million and US$ 0.04, respectively. Adjusted net loss (excluding deferred income tax and social contribution) for 2Q19 was US$ (13.9) million, with Adjusted loss per ADS of US$ (0.08). Embraer reported adjusted net loss in 2Q18 of US$ (0.4) million, for an adjusted loss per ADS of US$ (0.002) in the quarter

• Embraer reported 2Q19 Free cash flow of US$ 1.5 million, versus free cash flow of US$ 43.3 million reported in 2Q18. The Company expects free cash flow generation to improve in the second half of the year given higher expected aircraft deliveries and cash inflows related to Defense & Security contracts

• The Company finished the quarter with total cash of US$ 2,478.8 million and total debt of US$ 3,569.1 million, yielding a net debt position of US$ 1,090.3 million at the end of 2Q19

• The Company reaffirms all aspects of its 2019 financial and deliveries guidance.

Amtrak Trains Travel to the New York State Fair

August 5, 2019 / WIL BALDWIN

Provides an easy, relaxing and affordable experience as kids ride for free

NEW YORK – Amtrak has continued its partnership with the New York State Fair to provide direct train service for customers traveling as a more convenient, cost-effective, family friendly and comfortable way to travel to and from the Empire State’s largest annual event between Wednesday, Aug. 21 and Monday, Sept. 2.

Skip tolls, traffic and parking fees, and arrive steps from the fairgrounds via select Empire Service (Trains 281, 283, 284 and 288) and Maple Leaf (Trains 63 and 64) trains, which will make daily stops at the State Fair (in between stops at Rochester and Syracuse stations), adjacent to the Fairgrounds. The Amtrak station code for the New York State Fair is NYF.

Westbound trains originating in New York City stop at the Fair at 1:21 p.m. during the week and 12:56 p.m. on weekends (Train 63), 3:58 p.m. daily (Train 281) and 6:57 p.m. daily (Train 283). Eastbound trains originating from Toronto or Niagara Falls stop at the Fair at 9:33 a.m. (Train 284) and 3:00 p.m. (Train 64), and 5:45 p.m. only on Monday, Sept. 2 (Train 288) en route to Albany and New York City.

In addition to the Fair stop, Amtrak is also offering a “kids ride free” promotion (one free child for each paying adult on the same itinerary) for travel to and from the Fair, which must be booked online at Amtrak.com and at least three days in advance of travel with the promo code V153. This sale is valid only during the duration of the Fair and includes one blackout date on Friday, Aug. 30. Other terms and conditions apply.

Tickets are available now at Amtrak.com, via the Amtrak mobile app, at station ticket counters or by calling 1-800-USA-RAIL. As always, customers will enjoy plenty of legroom, a generous luggage policy, and scenic routes. Amtrak also offers free Wi-Fi, the freedom to use phones and electronic devices at all times (no “airplane mode”).

Amtrak has been offering train service to the New York State Fair since 2002. The New York State Fair, operated by the New York State Department of Agriculture and Markets, attracts more than one million people during the 13-day celebration of delicious food, eye-opening exhibits, captivating entertainment and great fun. The home of the Great New York State Fair is a 375-acre exhibit and entertainment complex that operates all year.

Textron Reviewing Strategic Alternatives for Kautex

August 5, 2019 / WIL BALDWIN

PROVIDENCE, R.I.–(BUSINESS WIRE)– Textron Inc. (NYSE: TXT) today announced that it is reviewing strategic alternatives for its Kautex business unit, which produces fuel systems and other functional components. Textron plans to consider a range of options, including a sale, tax-free spin-off or other transaction. Kautex operates over 30 plants in 14 countries and generated over $2.3 billion in revenue in 2018.

Kautex, headquartered in Bonn, Germany, is a leading developer and manufacturer of blow-molded plastic fuel systems and advanced fuel systems for cars and light trucks, including pressurized fuel tanks for hybrid applications. The unit also develops and manufactures camera/sensor cleaning solutions for automobiles, selective catalytic reduction systems used to reduce emissions from diesel engines as well as produces cast iron engine camshafts, crankshafts and other engine components.

“Kautex is a leading Tier One supplier to global OEMs. It has a long history of product innovation, world-class operations and strong financial performance,” said Scott C. Donnelly, Textron Chairman and Chief Executive Officer. “We are exploring strategic alternatives to see how we can position Kautex to best serve its customers for ongoing success while simultaneously unlocking potential value for our shareholders.”

No decision has been made and there can be no assurance that the process will result in any transaction being announced or completed in the future. The Company has not set a definitive timetable for completion of its review of strategic alternatives and does not intend to make any further announcements related to its review unless and until its Board of Directors has approved a specific transaction or the Company otherwise determines that further disclosure is appropriate.

Textron has retained Goldman Sachs & Co. LLC as financial advisor to assist in its review.

About Textron Inc.

Textron Inc. is a multi-industry company that leverages its global network of aircraft, defense, industrial and finance businesses to provide customers with innovative solutions and services. Textron is known around the world for its powerful brands such as Bell, Cessna, Beechcraft, Hawker, Jacobsen, Kautex, Lycoming, E-Z-GO, Arctic Cat, Textron Systems, and TRU Simulation + Training. For more information visit: www.textron.com

Amtrak Northeast Sale Offers Saturday BOGO Free

May 15, 2019 / WIL BALDWIN

WASHINGTON – With temperatures heating up in the Northeast, Amtrak is making it easier to enjoy the warm weather and weekends with your favorite travel partner through its “Saturday BOGO Sale.” The sale offers customers one free adult ticket, with the purchase of one adult ticket for Saturday travel throughout the Northeast Corridor (between – and within – Washington, D.C., and Boston.) and the option to travel conveniently and affordably on the Northeast Regional (NER) or experience upscale amenities on the Acela.

https://www.amtrak.com/home.html

Embraer Announces Earnings Results For 1st Quarter 2019

May 15, 2019 / WIL BALDWIN

HIGHLIGHTS

Embraer delivered 11 commercial jets and 11 executive jets (8 light / 3 large) in 1Q19.

The Company’s firm order backlog at the end of 1Q19 was US$ 16 billion considering all deliveries as well as firm orders obtained during the period.

EBIT and EBITDA in 1Q19 were US$ (15.2) million and US$ 30.9 million, respectively, yielding EBIT margin of -1.8% and EBITDA margin of 3.8%. This compares to EBIT of US$ (5.3) million (-0.6% EBIT margin) and EBITDA of US$ 57.8 million (6.0% EBITDA margin) in 1Q18.

1Q19 Net loss attributable to Embraer shareholders and Loss per ADS were US$ (42.5) million and US$ (0.23), respectively. Adjusted net loss (excluding deferred income tax and social contribution) for 1Q19 was US$ (61.8) million, with Adjusted loss per ADS of US$ (0.34). Embraer reported adjusted net loss in 1Q18 of US$ (60.5) million, for an adjusted loss per ADS of US$ (0.33) in the quarter.

Embraer reported Free cash flow of US$ (665.3) million in 1Q19, compared to free cash flow of US$ (435.2) million reported in 1Q18. The Company finished the quarter with total cash of US$ 2,483.4 million and total debt of US$ 3,587.1 million, yielding a net debt position of US$ 1,103.7 million versus net debt of US$ 439.9 million at the end of 2018.

The Company’s shareholders approved the proposed strategic partnership between Boeing and Embraer during an Extraordinary General Shareholders’ Meeting on February 26, 2019. At the meeting, 96.8% of all valid votes were in favor of the transaction, with participation of roughly 67% of all outstanding shares.

The closing of the transaction between Boeing and Embraer remains subject to obtaining regulatory approvals and the satisfaction of other customary closing conditions, expected by the end of 2019.

The Company reaffirms all aspects of its 2019 financial and deliveries guidance.

Click the link below for the full report!

https://daflwcl3bnxyt.cloudfront.net/m/4fe5d3ce64e6b820/original/Embraer-Release-US-1Q19_FINAL.pdf

How Wynn Resorts Could Free Up Billions in Cash

March 25, 2019 / WIL BALDWIN

One of the trends sweeping through the gaming industry over the past decade is selling real estate to real estate investment trusts (REITs). Sometimes companies control their REITs, like MGM Resorts (NYSE: MGM) does with MGM Growth Properties (NYSE: MGP) and Caesars Entertainment (NASDAQ: CZR) does with VIVI Properties(NYSE: VICI), and sometimes real estate is sold to third-party companies.

REITs free up cash for casino companies, often to the tune of billions of dollars. That money can help reduce debt or fund growth projects, which is attractive because it doesn’t fundamentally change a resort’s operations. But Wynn Resorts (NASDAQ: WYNN) has avoided the temptation to sell most of its real estate over the years. If it did, however, the company could free up billions of dollars in cash.

Wynn's Encore Boston Harbor. — Wynn’s Encore Boston Harbor.

Image source: Wynn Resorts.

Click the link below for the full story from “The Motley Fool”…

https://finance.yahoo.com/news/wynn-resorts-could-free-billions-163400237.html