NEW YORK, May 12, 2015 /PRNewswire/ --
Editor Note: For more information about this release, please scroll to bottom.
Moments ago, Analysts Review released new research updates concerning several important developing situations including Performant Financial Corporation (NASDAQ: PFMT), TravelCenters of America LLC (NYSE: TA), Cenveo Inc. (NYSE: CVO), Extended Stay America, Inc. (NYSE: STAY), and Air Transport Services Group, Inc. (NASDAQ: ATSG). Analysts Review provides a single unified platform for investors' to hear about what matters - proudly employing registered CFA® research staff and rigorous compliance procedures. The full research reports are being made available to the public for informational purposes only.
To access our full PDF reports on a complementary basis, please visit the links below.
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Today's update concerns the following companies:
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Full PDF Download Links (you may have to copy and paste the following links into your browser):
PFMT Research Report: ( http://get.analystsreview.com/pdf/?c=Performant%20Financial&d=12-May-2015&s=PFMT ),
TA Research Report: ( http://get.analystsreview.com/pdf/?c=TravelCenters%20of%20America&d=12-May-2015&s=TA ),
CVO Research Report: ( http://get.analystsreview.com/pdf/?c=Cenveo%20Inc.&d=12-May-2015&s=CVO ),
STAY Research Report: ( http://get.analystsreview.com/pdf/?c=Extended%20Stay%20America&d=12-May-2015&s=STAY ),
ATSG Research Report: ( http://get.analystsreview.com/pdf/?c=Air%20Transport%20Services&d=12-May-2015&s=ATSG ).
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Analyst Update: Quarterly Earnings Updates
The U.S. markets ended lower on Monday as the concern over Greece's precarious financial condition and China's slowing growth weighed on the investor sentiment. The energy index saw a sharp sell off on the back of weak oil prices. The Dow Jones Industrial Average fell by 85.94 points or 0.47% to close the day at 18,105.17. The NASDAQ and S&P 500 ended the day at 4,993.57 and 2,105.33, respectively, down by 0.2% and 0.51%, respectively, for the day. The European markets too ended the day in the red on Greece debt fears. The FTSE 100 was down 0.24%, DAX lost 0.31%, and CAC 40 plunged 1.23%. However, Asian markets (excluding Australia), traded higher as investors cheered China's latest cut in interest rates to boost its slowing economy.
Performant Financial Corporation announced its financial results for the first quarter 2015 on May 6, 2015. The Company reported revenue of $38.6 million, representing a 34.2% YoY decrease from $58.6 million in Q1 2014. The results were soft as the Company also showed declines in EBITDA and the bottom line, registering an income of $4.1 million and a loss of $4.4 million, respectively.
TravelCenters of America LLC announced its first quarter 2015 results on May 7, 2015. The Company's revenue declined 28.4% YoY from 1,967 million in Q1 2014 to $1,407 million during this quarter, primarily due to the significantly lower market prices for fuel in the first quarter of 2015. The Company reported $50.1 EBITDA for the first quarter of 2015 which increased by $29.4 million over the 2014 first quarter.
Cenveo Inc. on May 6, 2015 announced its first quarter results. Cenveo reported revenue for the first quarter of $475.1 million, a decline of 3.1% YoY. The revenue missed the Thomson's consensus estimate of $479.00 million. Robert Burton, Chairman and CEO, stated that the results were pleasing as the Company improved operational performance and registered a 5.2% growth in adjusted EBITDA from last year comparable period of $36.8 million to $38.7, while the Non-GAAP operating income was $23.8 million for the three months ended March 28, 2015, compared to $20.2 million for the same period last year.
Extended Stay America, Inc. announced its first quarter results on April 30, 2015. The Company reported revenue for the first quarter of $297.6 million, an increase of 6.4% YoY, compared to Q1 2014 revenue of $266.2 million. Furthermore, revenue per available room ("RevPAR") for the three months ended March 31, 2015 grew 6.8% YoY, driven by an improvement in average daily rate ("ADR") of 6.3% while occupancy increased to 70.4% as compared to 70.0% in the comparable period in 2014.
On May 5, 2015, Air Transport Services Group, Inc. (Air Transport) announced financial results for the first quarter ended March 31, 2015. For this quarter, revenues were $147.0 million, up 2% from last year comparable period's revenue of $143.5 million. Operational performance also improved as adjusted EBITDA came in at $46.5 million, up 20% YoY, from $38.8 million recorded in Q1 2014.
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Editor Note: This is not company news. We are an independent source and our views do not reflect the companies mentioned.
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