Last $57.41 USD
Change Today +0.82 / 1.45%
Volume 1.4K
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As of 3:11 PM 08/20/14 All times are local (Market data is delayed by at least 15 minutes).

onex corporation (ONEXF) Key Developments

Onex Corporation Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

Onex Corporation announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported revenues were largely unchanged compared to the same period of the prior year at $5.2 billion. Net earnings were $39 million compared to a net loss of $718 million in the second quarter of 2013. Loss before income taxes and discontinued operations was $375 million compared to $553 million for the same period a year ago. Loss from continuing operations was $408 million compared to $625 million for the same period a year ago. Net loss attributable to equity holders of the company were $89 million or $0.80 per basic and diluted share compared to $612 million or $5.38 per basic and diluted share for the same period a year ago. Loss from continuing operations attributable to equity holders of the company was $435 million or $3.94 per basic and diluted share compared to $624 million or $5.48 per basic and diluted share for the same period a year ago. For the six months, the company reported revenues decreased 1% to $10.0 billion. Net earnings were $138 million compared to a net loss of $989 million for the six months ended June 30, 2013. Loss before income taxes and discontinued operations was $427 million compared to $915 million for the same period a year ago. Loss from continuing operations was $475 million compared to $982 million for the same period a year ago. Net loss attributable to equity holders of the company were $129 million or $1.16 per basic and diluted share compared to $920 million or $8.08 per basic and diluted share for the same period a year ago. Loss from continuing operations attributable to equity holders of the company was $518 million or $4.68 per basic and diluted share compared to $969 million or $8.53 per basic and diluted share for the same period a year ago. Cash from operating activities was $471 million compared to $489 million for the same period a year ago. Purchase of property, plant and equipment was $194 million compared to $292 million for the same period a year ago.

Res-Care Reportedly Up For Sale

Onex Corporation (TSX:OCX) is exploring a sale of Res-Care Inc. that could fetch more than $1 billion, Reuters reported citing people familiar with the matter. The Goldman Sachs Group, Inc. (NYSE:GS) and Jefferies & Company, Inc. are understood to be advising Onex Corporation. Representatives for Res-Care Inc. and Onex Corporation could not be immediately reached for comment. The Goldman Sachs Group, Inc. and Jefferies & Company, Inc. declined to comment.

Nigel Wright Returns to Onex Corporation Joining the London Team as a Managing Director

Onex Corporation announced that Nigel Wright will return to Onex joining the London team as a Managing Director. Mr. Wright took a leave of absence from Onex in 2010 to join the Office of the Prime Minister of Canada as Chief of Staff. He was previously a Managing Director with Onex for 13 years.

Onex Considers Acquisitions

Robert Le Blanc, a Senior Managing Director with Onex Corporation (TSX:OCX), which announced the acquisition of York Risk Services Group, Inc., said, "We are excited to partner with Rick and his team to continue York's impressive track record of growth both organically and through strategic acquisitions."

Onex Corporation to Report Q2, 2014 Results on Aug 13, 2014

Onex Corporation announced that they will report Q2, 2014 results at 9:00 PM, GMT Standard Time on Aug 13, 2014

 

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Price/Book 5.7x
Price/Cash Flow 4.0x
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