Friday, November 27, 2015

PhillyInc watches local companies' parade of profits

It's a heavy day for earnings news with early issuers largely reporting lower profits (Teleflex & Teva) and even losses (UGI).

PhillyInc watches local companies' parade of profits


The cavalcade of earnings reports marches by on this Wednesday.

Valley Forge's UGI - both an natural gas utility and propane distributor - started off with a net loss of $7.2M, or 6 cents per share, for its 3d qtr. compared with net income of $3.4M, or 3 cents per share. Blame goes to "extraordinarily warm spring weather in Europe," according to CEO Lon Greenberg.

Also out is Teleflex, the Limerick-based medical device company. Sales were up 9.2 percent to $391M during Q2. However, net income of $34.1M, or 83 cents per share, was down by nearly half from $60.1M, or $1.51 per share, last year.

And Teva Pharmaceutial Industries, which is paying $6.8B to acquire Frazer-based Cephalon, reported an 11 percent rise in net sales for its Q2 to $4.2B. Net income for Teva, with North American HQ in North Wales, declined to $576M, or 64 cents per share, from $797M, or 88 cents per share.

Later, we'll hear from Brandywine Realty Trust (which just signed brokerage Janney Montgomery Scott to a 15-year lease in the pink-hued skycraper once known as the Bell Atlantic Tower); Exelon (parent of Philadelphia's Peco electric and gas utility); Universal Health Services (the King of Prussia for-profit hospital operator); and InterDigital (which has put itself up for sale now that Google, Apple and others seem willing to part with billions of dollars to control wireless technology patents.

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Mike Armstrong blogs about Philadelphia corporations and business-related topics. Contact him at 215-854-2980. Reach Mike at

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