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Last $10.23 USD
Change Today -0.12 / -1.16%
Volume 124.9K
QLTY On Other Exchanges
Symbol
Exchange
NASDAQ GM
Frankfurt
As of 8:10 PM 04/17/15 All times are local (Market data is delayed by at least 15 minutes).

quality distribution inc (QLTY) Key Developments

Quality Distribution Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2014; Provides Capex Outlook for the Full Year 2015

Quality Distribution Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2014. For the quarter, the company reported diluted earnings were $0.09 per share, compared to a net loss of $0.85 per share in fourth quarter of 2013. On an adjusted basis, net income was $0.18 per share, up 38% from $0.13 per share in the year ago quarter. Revenues were $243.2 million, up 8% from $225.4 million reported for the same period last year. Operating income was $10.766 million against operating loss of $28.142 million a year ago. Net income was $2.624 million against net loss of $22.798 million a year ago. Adjusted net income was $4.988 million against $3.616 million a year ago. EBITDA was $15.966 million against LBITDA of $21.85 million a year ago. Adjusted EBITDA was $20.812 million against $19.263 million a year ago. For the full year, the company reported revenue of $991.8 million was higher by 6.7% compared to $929.8 million. Net income increased to $20.6 million, or $0.74 per diluted share, compared to a net loss of $42.0 million, or $1.58 per diluted share. Adjusted net income increased 14.8% to $21.2 million, or $0.75 per diluted share, compared to $18.4 million, or $0.68 per diluted share. Free cash flow was $54.7 million. Operating income was $51.2 million compared to an operating loss of $42.8 million. After adjusting for the non-operating items, operating income was $61.5 million, up 6.5% compared to $57.8 million, driven primarily by increases in each operating segment. Adjusted EBITDA was flat at $86.9 million compared to $86.6 million. The Company generated operating cash flow of $33.5 million in 2014, which was primarily used to repay debt. Capital expenditures for 2014 were $40.1 million and proceeds from equipment sales were $34.1 million, resulting in net capital expenditures for 2014 of $6.0 million, compared to net capital expenditures for 2013 of $1.5 million. Net capital expenditures were higher in 2014 to support growth in the Chemical Logistics business. EBITDA was $76.732 million against LBITDA of $9.908 million a year ago. At year-end, net debt was approximately $350 million. For the full year 2015, the company expects net capital expenditures to range from $10 million to $15 million.

Quality Distribution Inc. Provides Earnings Guidance for the Fourth Quarter Ended December 31, 2014 and First Quarter and Full Fiscal Year 2015

Quality Distribution Inc. provided earnings guidance for the fourth quarter ended December 31, 2014. For the quarter, the company expects total revenue to be approximately $243 million, operating income to be within the range of $10.4 million to $10.8 million, adjusted EBITDA to be within the range of $20.4 million to $20.8 million, and adjusted net income per diluted share to be within the range of $0.17 to $0.18; Estimated adjusted EBITDA and estimated adjusted net income per diluted share for the three-month period ended December 31, 2014 primarily excludes cash and non-cash pre-tax reorganization costs within the Energy Logistics business of approximately $3.8 million. Gross capital expenditures is expected to be $10.5 million. Estimated net income is expected to be between $2.2 million and $2.6 million. Basic and diluted estimated net income per common share is expected to be between $0.08 and $0.09. Estimated adjusted net income is expected to be between $4.8 million and $5.0 million. For the first quarter of 2015, the company expects adjusted net income per diluted share to be in the range of $0.11 to $0.16. For the fiscal year 2015, the Company expects adjusted net income per diluted share to be in the range of $0.77 to $0.87. These estimates assume a 39% tax rate, and exclude any impacts from non-operating items and costs related to any potential debt refinancing activity. The Company expects its free cash flow to be in the range of $50 to $55 million.

Quality Distribution Inc., Q4 2014 Earnings Call, Feb 26, 2015

Quality Distribution Inc., Q4 2014 Earnings Call, Feb 26, 2015

Quality Distribution Inc. to Report Q4, 2014 Results on Feb 25, 2015

Quality Distribution Inc. announced that they will report Q4, 2014 results After-Market on Feb 25, 2015

Quality Distribution Inc. Presents at BB&T Capital Markets 30th Annual Transportation Services Conference, Feb-11-2015 10:00 AM

Quality Distribution Inc. Presents at BB&T Capital Markets 30th Annual Transportation Services Conference, Feb-11-2015 10:00 AM. Venue: The Biltmore, 1200 Anastasia Avenue, Coral Gables, FL 33134, United States. Speakers: Gary R. Enzor, Chairman, Chief Executive Officer and Chief Executive Officer of Quality Distribution LLC, Joseph J. Troy, Chief Financial Officer, Principal Accounting Officer and Executive Vice President.

 

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Industry Analysis

QLTY

Industry Average

Valuation QLTY Industry Range
Price/Earnings 13.9x
Price/Sales 0.3x
Price/Book NM Not Meaningful
Price/Cash Flow 6.8x
TEV/Sales NM Not Meaningful
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