Miscellaneous Earnings Call Notes 3.4.16

Splunk (SPLK) Douglas Merritt on Q4 2016 Results

Amount of data will double ever two years through 2020

“Analysts estimate that between 2013 and 2020, the amount of data generated globally will increase tenfold, doubling every two years. That is why we firmly believe that by any measure of penetration, we are just getting started. ”

Clear Channel Outdoor’s (CCO) CEO Fred Davidson on Q4 2015

TV now reaches only 85% of US adults

“The other major trend is the much-publicized decline of TV usage as measured by Nielsen. According to Nielsen’s Q3 comparable metrics report TVs weekly reach continues to decline, now reaching only 85% of U.S. adult 18-plus and it’s particularly losing ground with the key millennial audience. By contrast, radio continues to reach 93% of all U.S. adults 18-plus.”

Only 3 in 10 millenials watch TV and 50% of 18-24 year olds don’t watch in prime time

“TVs weekly reach among millennials is only 73%, dropping into third, below broadcast radio at 92% and smartphones at 84%. In other words, today roughly 3 in 10 millennials don’t watch television. An incredible statistic. The picture is even bleaker with a younger audience. Only 50% of people aged 18 to 24 watch broadcast TV in prime time.”

Del Frisco’s Restaurant Group’s (DFRG) CEO Mark Mednansky on Q4 2015 Results

The upscale guest is spending more money

“contrary to popular belief, the upscale guest is spending more money. We see that at the Del Frisco’s brand, we see at the Sullivan’s brand. ”

Mitt Romney Donald Trump takedown speech

“If Donald Trump’s plans were ever implemented, the country would sink into a prolonged recession…His proposed 35% tariff-like penalties would instigate a trade war that would raise prices for consumers, kill export jobs, and lead entrepreneurs and businesses to flee America. His tax plan, in combination with his refusal to reform entitlements and to honestly address spending would balloon the deficit and the national debt. So even as Donald Trump has offered very few specific economic plans, what little he has said is enough to know that he would be very bad for American workers and for American families.”

Tutor Perini’ (TPC) CEO Ronald Tutor on Q4 2015 Results

Building markets stronger than ever in CA NY and FL

“Our Civil markets are continuing to grow as evidenced by the increased volume of bidding opportunities and we continue to maintain a significant part of that growth as we deliver the profits we expect. We believe the new highway bill will be realized in the near future and that should only add to the growth we expect. The building markets are stronger than ever in California, New York and Florida which are our primary building markets where several major projects are pending and we believe some significant announcements we will make in the next 60 to 90 days particularly in Florida.”

Dollar Tree’s (DLTR) CEO Bob Sasser on Q4 2015 Results

On track for a good first quarter

“As far as current trends, obviously we’ve finished one period out of the three so we still got two period to go on the quarter, but I’m pleased with where we are. It’s always — you usually get a weather report sometime in February and when weather was adverse, it wasn’t as good as we thought but overall we ended up with a good first period and on-track for a very good quarter. And frankly, I’m looking forward to a period of time when we don’t have those disruptions like we had last year from the port strike, and I think you can see in our inventory, we have the inventory that we should have had last year. We have that inventory this year, so my expectation is that we’re going to have a, we’re on track for a good first quarter. Easter’s a little early, the early Easters at Dollar Tree aren’t usually good, so we’ve said that’s a $10 million head wind. But at the end of the day, we’ve given you our first quarter guidance and any color on that is we’re on track.”

Medtronic’s (MDT) CEO Omar Ishrak on Q3 2016 Results

There were no economy related issue, but the anniversarying of the affordable care act did slow us down a bit

“Like I had mentioned in the last call, the three things that we look at in the U.S, one is one which we knew was going to slow things out a little bit was the anniversarying of the Affordable Care Act and that probably had a little bit of an impact. The overall procedure volumes based on the economy I think were more or less steady. I think in the Surgical Solutions maybe a slight drop in procedure volumes, but essentially it was steady. There was no economy related issues.”

Tutor Perini 2Q14 Earnings Call Notes

This post is part of a series of posts called “Company Notes.” These posts contain quotes and exhibits from earnings calls, conference presentations, analyst days and SEC filings. Full transcripts can be found at Seeking Alpha

Backlog mix

“We ended the quarter with a backlog of $7.8 billion, up $1.2 billion compared to the second quarter last year. Our backlog mix is now 48% Civil, 26% Building and 26% Specialty. Our pending awards at the end of the second quarter were $4.2 billion, down slightly from $4.3 billion at the first quarter due to several large projects awarded.”

Cost to build some buildings

“Our Building Group had new awards and adjustments in the second quarter totaling $647 million. The largest awards included the $255 million Panorama Tower in Miami, Florida; the $120 million Broadway Plaza retail development project in California; and the $113 million Scarlet Pearl Casino Resort project in Mississippi. The Building Group’s backlog was $2 billion, up $275 million compared to the first quarter”

67m for dam excavation, 267 m for runway reconstruction

“The largest civil order book was the $67 million John Hart dam excavation and tunneling project in British Columbia, Canada. As I mentioned earlier, in the first week of July, Tutor Perini was awarded a contract by the Port Authority of New York and New Jersey valued at $267 million for runway reconstruction at the JFK International Airport.”

Specialty contractor project examples

“Significant new awards included 3 large electrical subcontracts totaling $104 million for Five Star Electric related to the Hudson Yards platform, a multi-unit residential tower and a mixed-use building all in New York; as well as a $26 million heating, ventilating and air conditioning project for WDF on a multi-unit residential tower, also in New York City.”

No end in sight to major civil works projects

“For our Civil Group, we continue to see a strong $10 billion pipeline of prospective work to be bid and awarded over the next 12 months. We are absolutely bidding the maximum of our physical capacity with what seems to be no end in sight in major civil works.”

Litigation in Boston and with MGM

“we’re in day-to-day continued to be negotiations and discussions with MGM and the insurance companies on a possible resolve of MGM CityCenter. We have a trial starting date of September 22 or thereabouts. So obviously, it’s coming down to the short strokes. I can’t really say whether there’s a high potential settlement in the offing or not, but it’s getting down to very short periods of time. Other than those 2 issues, I can’t really recall any pending litigation that might take place in the second half of the year.”

NYC is the most explosive market in the country

“New York City, which right now is the most explosive market in the United States, where it seems that, every day, another major project goes out to bid with very, very definitive lack of capacity.”

Capacity constraints in civil business

” think, nationally, the Civil business is growing with such leaps and bounds, there’s definitely capacity constraints, which the next step leads to better margins.”