National Oilwell Varco
National Oilwell Varco reported its fourth quarter and full year 2015 results on 3rd February. The company’s fourth quarter net income was $ 85 million, or $ 0.23 per fully diluted share, excluding other items that included pre-tax charges of $ 1,634 million for goodwill and other intangible asset write-downs, $ 139 million for restructuring and other charges and $ 7 million in FX losses due to currency devaluation in Argentina. The net income was down from $ 0.61 in the third quarter of 2015 on a comparable basis.
The company’s gross margin declined 210 basis points to 19.1 %. EBITDA was $ 308 million or 11.3 % of sales. The company’s working capital, excluding cash and debt, totalled $ 5.5 billion at the end of year 2015, down $ 422 million from the prior quarter. The company
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The company reduced its global workforce, including contract labour, by 21 % through the last year. Further, it has closed down 75 facilities since mid-2014 (the start of the downturn) to retrench to a smaller, more efficient footprint. The decremental operating leverage was 32 % from 2014 to 2015, excluding charges from both years. As a result of these cost cutting measures, the company has been able to maintain a healthy cash flow from operations that will prove to be instrumental in withstanding the turbulent environment.
Orders drying up:
The worry for NOV at this moment should be that it is not getting new orders. For Rig Systems, National Oilwell Varco received just $ 89 million of new orders in the fourth quarter. The book to bill ratio has fallen to alarming level of just 10%. Making the life tougher for National Oilwell Varco are the order cancellations, which have further damaged the backlogs. As far as rig systems business is concerned, the total backlog has fallen 24 % from the third quarter and 52 % from the same quarter last year to $ 6.1 billion.
Financial Analysis Kohls was founded in 1962 and corporate office is located in Menomonee Falls, Wisconsin, a suburb of Milwaukee. The company has almost 1,200 stores across 49 states and generates annual sales in excess of $19 billion. They introduced on-line shopping in 2001. In recent years, capital investments have shifted from building new stores to improving the customer’s shopping experience.
Thus, they are in a position to cover any debt obligations that may come up quickly. Their inventory turnover has been relatively steady over the five years of data. In year 7 their inventory turnover reached 3.2 which means inventory is moving through to customers at an increased rate over the year which correlates with their increased sales. This statement is supported by the fact that the days inventory held for stoves has dropped over the past five years from 146 days in year 3 to 114 days in year 7. These reductions have allowed for the reduction of their days in accounts payable from 51 all the way down to 11.
The net profit was $43.9 million in FY2008, an increase of 20% over FY2007 (SWOT Analysis, 2009).” Meaning that this company cash flow sheets has decreased throughout the years but the company has continued to offer services to the people that’s in need of home health services. However, there are now many local agents that are offering the exact type services but at lesser prices and has become extremely competitive for this
Company Information Founded in 1978, The Home Depot is the world's largest home improvement retailer based on net sales for the fiscal year ended on January 29, 2017. The Home Depot sells a large variety of building materials, home improvement products and gardening products, as well as many services with 2,278 stores in North America. The Home Depot strives to excel in service, to customers, associates, communities, and shareholders. Their business model is to put customers and associates first, and let the rest follow. During the year, The Home Depot continues to drive growth and productivity in regards to their three-legged stool framework.
For example, Verizon has increasing number of common stock. It was $424,000. Also, retained earning increased about 27%. Cash flow Statement Net cash provided by operating activities during 2014 decreased by $8.2 billion because increase in adjustment to net income like increase in income tax payments and interest payments.
In the low commodity price environment, EOG remains grounded in terms of reduction in operating as well as capital expenditure. After having reduced its cash operating costs per unit by 17% in 2015, the company plans to additionally lower its cash operating costs in 2016 through a mixture of costs efficiencies improvements. For instance, the company during the first-quarter of 2016, secured a long-term brackish water supply, which is expected to save them approximately
Introduction A company’s success is measured by how well it is structured and organized in order to adapt to the changes in environment as well as the changes within itself such as the company’s scale, employees, product scope, etc. Having a suitable, well-structured organizational frame will not only increase the chance of being success but also prolong the company’s lifespan compared to an un-structured one. It is important to note that an organization’s structure needs to fit in with the current situation and does not necessarily required remain unchanged over time. Taking Dynacorp as an example, even though its functional structure contributed to the vast growth of the company at the start, its limitation in dealing with the changes within
Exxon Mobil and the Chad-Cameroon Pipeline 1. Is this an attractive opportunity for Exxon mobile? Considering the financial perspectives of the project, the project was bound to create huge revenues for all the parties involved in the project. According to World Bank, this project would create a revenue of $2billion for Chad and $500 million for Cameroon.
1. Introduction In 2010, the Deepwater Horizon oil platform spit nearly five million barrels of oil into the Gulf of Mexico, making it the largest oil spill in history. The 1989 oil spill surpassed Exxon Valdez's oil spill in 1989 as the largest oil spill ever seen in US-controlled waters and the Ixtoc I oil spill of 1979 as the largest oil spill in the Gulf of Mexico. On April 20, 2010, Deepwater Horizon, an ultra-deepwater offshore rig, exploded in the Gulf of Mexico about 41 miles off the coast of Louisiana, killing 11 riggers and injuring 17 others.
For the Huffman Trucking Company, strategic planning has been an important part of their functions for over 60 years. For a company like Huffman Trucking, financial planning is extremely important to maintain their continued growth and their overall health in the long term. When analyzing the financial statements for the last three years we looked and three separate types of financial statements: the income statement, balance sheets, and the cash flow budget, we will also try and make assumptions to identify the various risks involved in a business like Huffman Trucking. When looking at the various financial statements we attempt also review the cash flow statements and attempt to make recommendations on the implementation of various short-term working capital strategies on the long term cash flows, try and find an explanation of different corporate risk mitigation techniques capital budgeting, and make an analysis of what effect capital structure on strategic financial planning, and how it works to affect risks.
Return on Equity increased from 10.98% to 15.39%, showing that the firm is more profitable than before. Earnings per Share increased as well, as there were less shares outstanding with the repurchase while net income was unaffected. EPS increased from $0.91 to $1.04, another indicator that the leverage increased profitability. With the repurchase, Blaine’s D/E ratio increased, going from not having any debt at all to a D/E ratio of 11.48%, which is more inline with industry competitors. PE ratio fell as a result of the leverage.
Gemini’s parts have remained about the same from 2008 to 2009 at 49.2 and 48.8, significantly above the industry average of 32.3 days. Though they have decreased by 1 day, it is still much longer than the average. This means Gemini has inventory parts that sit for almost 50 days. This is because Gemini still had to source many of its parts from Asian contractors, resulting large part inventories being maintained due to long delivery times. Their Work in Process has increased by 0.01 from 2008 to 2009 and it remains less than half of the industry average.
Their current ratio is 1.4% (total current assets/total current liabilities). According to the Risk Management Association of Financial Ratio Benchmarks, the current average ratio is 1.5%. In 2014, the current ratio for the firm was 1.46% while the average ratio in the industry (NAICS 311330) was 1.6%. The company’s net property and equipment in 2015 is worth 2.6 million dollars, a slight increase from 2014, which was 2.3 million. The company is considering taking on some debt to increase their production capabilities.
SUPERMAX Corporation Berhad should be aware of their cultural differences in the workplace. Since there have a lot of different race in Malaysia and also most of the workers are from the different background so it can easily cause communication barrier happen between all the workers within the workplace. SUPERMAX should treat this issue seriously and handle it properly in order to avoid misunderstanding and tension between employees. It is vitally significant that there is a good relationship between all the employees and also the superior because it can affect the company’s productivity and efficiency. SUPERMAX should have cultural sensitivity in order to create a harmonious atmosphere in the workplace at the same time it can improve the performance of the company.
GraceKennedy (GK) is one of the Caribbean’s largest and most dynamic Food and Finance corporate entities started in Jamaica in 1922. The operations of GK span the areas of food processing and distribution, banking and finance, insurance, remittance services, agricultural inputs and building material retailing. Global Appearance GraceKennedy Foods is a division of the GraceKennedy Group and is responsible for the distribution of Grace Brands and Grace owned brands in over 40 countries. GK has 60 subsidiaries and associated companies across the Caribbean, The UK, Africa, North and Central America.