Home > Boards > Free Zone > All Fundamentals > Natural Resources/The Global Demographic Tailwind

DE addendum re FY2020 outlook: FY2019 GAAP EPS

Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
DewDiligence Member Profile
Member Level 
Followed By 739
Posts 113,345
Boards Moderated 15
Alias Born 09/05/02
160x600 placeholder
DewDiligence Member Level  Wednesday, 11/27/19 10:33:32 AM
Re: DewDiligence post# 20086
Post # of 22716 
DE addendum re FY2020 outlook: FY2019 GAAP EPS of $10.15 included a discrete tax benefit of $0.21/sh, which resulted in an artificially low FY2019 tax rate of 20%. Excluding this discrete tax item, FY2019 EPS was $9.94 (slide #3).

The tax rate in FY2020 is expected to be in the normal range of 24-26% (slide #16), so $9.94 rather than $10.15 is the proper FY2019 EPS base for year-over-year comparisons. On this basis, the FY2020 EPS guidance of $8.57-9.84 represents a YoY decline of -14% to -1% (rather than a range of -16% to -3%). Still not a good outlook, obviously, but it’s not quite as bad as the raw GAAP numbers.

https://s22.q4cdn.com/253594569/files/doc_financials/2019/q4/4Q_2019_Earnings-Call-Presentation.pdf

“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”
Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
Follow Board Follow Board Keyboard Shortcuts Report TOS Violation
X
Current Price
Change
Volume
Detailed Quote - Discussion Board
Intraday Chart
+/- to Watchlist