{"id":1434,"date":"2014-04-28T12:01:18","date_gmt":"2014-04-28T10:01:18","guid":{"rendered":"http:\/\/www.blog.asmus-puhl.com\/?p=1434"},"modified":"2014-04-28T12:01:18","modified_gmt":"2014-04-28T10:01:18","slug":"colfax-reported-good-q1-2014-results-2","status":"publish","type":"post","link":"http:\/\/www.blog.asmus-puhl.com\/?p=1434","title":{"rendered":"Colfax reported good Q1 2014 results!"},"content":{"rendered":"<p style=\"text-align: justify;\">After completing the Victor Technologies Holding acquisition Colfax Corp. (NYSE: CFX) released the Q1 2014 Earnings and hold the Conference Call. <a href=\"http:\/\/seekingalpha.com\/article\/2164073-colfaxs-ceo-discusses-q1-2014-earnings-results-earnings-call-transcript\" target=\"_blank\">Seeking Alpha published the transcript.<\/a><\/p>\n<p style=\"text-align: justify;\">Even if adjusted earnings came in 1 ct. short of expectations the results are remarkable!<\/p>\n<p style=\"text-align: justify;\">Sales were up 11% in total reflecting the impact of the acquisitions for gas and fluid handling closed in the fourth quarter of 2013.<\/p>\n<p style=\"text-align: justify;\">Adjusted operating income was $94.1 million representing an adjusted operating margin of 9.8%. Fabrication technologies\u2019 adjusted operating margins were 11.2%. Gas and fluid handling\u2019s adjusted margins were 9.8%<\/p>\n<p style=\"text-align: justify;\">Total orders in the quarter were $583.4 million, up 16.2% year over year, while backlog at the end of the quarter was $1,592.0 million, compared with $1,438.5 million at the end of first-quarter 2013.<\/p>\n<p style=\"text-align: justify;\">Applying its CBS tools Colfax was able to reduce its long-term debt built up to finance the acquisitions to $1.1 billion down from $1.5 billion at the end of 2013.<\/p>\n<p style=\"text-align: justify;\">As a summary CEO Steve Simms pointed out at the conference call, that Colfax \u201eimproved operating margins despite a sluggish economic environment and remains confident in achieving both the 2014 targets and the longer term operating profit goals of 13% for ESAB, 17% for fluid handling, and 15% for Howden business including the acquired entities\u201c.<\/p>\n<p style=\"text-align: justify;\">Colfax increased its earnings guidance from $2.40 &#8211; $2.65 up to an adjusted earnings per share of $2.45\u2212$2.70 .<\/p>\n<p style=\"text-align: justify;\">This puts the share at a p\/e ratio of 27-28.<\/p>\n<p style=\"text-align: justify;\">This is not cheap but Colfax stock never really was cheap up on its way to ten-bagger status for readers of this blog!<\/p>\n<p style=\"text-align: justify;\">The market simply expects Colfax to continue to grow by acquisitions and to improve operational results sometimes dramatically in order to achieve an above average earnings growth rate.<\/p>\n<p style=\"text-align: justify;\">If you are new to CFX and want to build up a position in CFX perhaps the best is to do it \u201eby thirds\u201c in order to profit from tempory dips in the market!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>After completing the Victor Technologies Holding acquisition Colfax Corp. (NYSE: CFX) released the Q1 2014 Earnings and hold the Conference Call. Seeking Alpha published the transcript. Even if adjusted earnings came in 1 ct. short of expectations the results are remarkable! Sales were up 11% in total reflecting the impact of the acquisitions for gas [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[3],"tags":[],"_links":{"self":[{"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=\/wp\/v2\/posts\/1434"}],"collection":[{"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1434"}],"version-history":[{"count":8,"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=\/wp\/v2\/posts\/1434\/revisions"}],"predecessor-version":[{"id":1442,"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=\/wp\/v2\/posts\/1434\/revisions\/1442"}],"wp:attachment":[{"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1434"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1434"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1434"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}