Greenlight Capital (David Einhorn) discloses updated portfolio positions in 13F filing

New FHN SDRL ATVI positions, Exited GPN CIVI

Highlights from Q2 2023 filing as compared to Q1 2023:

• New positions in: FHN (~1.3 mln shares), SDRL (~0.27 mln), ATVI (~0.22 mln), AAP (~0.04 mln), HRI (~0.04 mln), SHC (~0.01 mln)
• Increased positions in: NPWR (to ~2.51 mln shares from ~0.76 mln shares), GPK (to ~1.77 mln from ~1.07 mln), BKI (to ~1.34 mln from ~0.92 mln), CPRI (to ~1.65 mln from ~1.24 mln), SWN (to ~9.23 mln from ~8.92 mln) CEIX (to ~2.85 mln from ~2.72 mln),
• Maintained positions in: GRBK (~16.6 mln shares), BHF (~3.12 mln shares), LIVN (~1.03 mln shares), GLD (~0.23 mln shares), FCNCA (~0.02 mln shares)
• Closed positions in: GPN (from ~0.6 mln shares), CIVI (from ~0.46 mln), PANA (from ~0.28 mln), CNXC (from ~0.21 mln)
• Decreased positions in: KD (to ~4.45 mln shares from ~8.5 mln shares), NBSE (to ~0.14 mln from ~2.73 mln), TECK (to ~1.35 mln from ~2.49 mln), NYCB (to ~1.71 mln from ~2.28 mln), THC (to ~0.93 mln from ~1.43 mln), SLV (to ~1.24 mln from ~1.49 mln), REZI (to ~0.49 mln from ~0.66 mln), WFRD (to ~0.43 mln from ~0.58 mln), ODP (to ~1.52 mln from ~1.63 mln), GPOR (to ~0.22 mln from ~0.28 mln)

Insider Trading : Mon 6/12/23

Notable purchases -- President/CEO adds to CC; notable sales -- 10% owner active in AN

Buyers:

• AAP Directors (3) bought 10,685 shares at $65.94 - $65.63 worth ~$701K.
• CC President and CEO bought 7,661 shares at ~$32.6299 worth ~$250K.
• NVRO Director bought 7,500 shares at $22.8500 - $22.8896 worth ~$172K.
• PACK Director bought 100,000 shares at $4.00 - $4.37 worth ~$420K.
• PMTS Director bought 7,500 shares at $23.30 - $24.49 worth ~$179K.

Sellers:

• AN 10% owner Eddie Lampert sold 50,000 shares at ~$145.1906 worth ~$7.3 mln.

-=Advance Auto (AAP) reported earnings on Wed 31 May 23 (b/o)

 

Advance Auto misses by $1.84, reports revs in-line; guides FY23 EPS below consensus, revs below consensus

• Reports Q1 (Mar) earnings of $0.72 per share, $1.84 worse than the FactSet Consensus of $2.56; revenues rose 1.3% year/year to $3.42 bln vs the $3.43 bln FactSet Consensus.
  • Q1 Comparable store sales decreased 0.4%
• Co issues downside guidance for FY23, sees EPS of $6.00-6.50 vs. $10.62 FactSet Consensus; sees FY23 revs of $11.2-11.3 bln vs. $11.44 bln FactSet Consensus.
  • Co sees FY23 Comparable store sales of (1.0%)-0.0% from 1.0-3.0% prior
• Dividend reduction
  • On May 30, 2023, the company declared a cash dividend of $0.25 per share to be paid on July 28, 2023 to all common stockholders of record as of July 14, 2023. Co's prior dividend was $1.50 per share.

-=Advance Auto (AAP) reported earnings on Tue 18 Feb 20 (b/o)

Advance Auto increases quarterly dividend by $0.06 to $0.25 per share
This dividend is payable April 3, 2020 to shareholders of record at the close of business on March 20, 2020.

Reports Q4 (Dec) earnings of $1.64 per share, $0.29 better than the S&P Capital IQ Consensus of $1.35; revenues rose 0.4% year/year to $2.11 bln vs the $2.12 bln S&P Capital IQ Consensus.

• Same store comps were +0.1%.
• Gross margin decreased by 19 bps to 44.0%.

Co issues in-line guidance for FY20, sees FY20 revs of $9.88 bln to $10.10 bln vs. $9.93 bln S&P Capital IQ Consensus.

• Comparable store sales expected to increase up to 2.0%.

Earnings this week : Feb 17 - 21, 20 (wk 8)

Monday (Feb 17)

• Holiday: Presidents' Day (US stock, bond, and options markets and the Federal Reserve Bank will be closed on Monday, February 17, 2020. Futures markets will close at 1pm ET.

Tuesday (Feb 18)

• Morning: AAP AEIS ALLE ATH BLMN CEVA CHH CEQP ECL EXPD FLR FELE GSX INMD JELD LDOS MDT SFL SITE TSEM TRU USAC VG VMC WAB WMT WLK
• Afternoon: A AMED ACC TXG ACC AWK ATRC BKD CHE CXO DVN FANG WIRE ENPH EVBG EXR GRPN HCKT HVT HQY HSTM HLF IOSP INVH KAR KRG KNL LZB LC DOOR NP NTR PLMR QTS ROIC RPAI SGMS SCPL SSTI SOI SHO TX TIVO TRTX TPH WRSK WNO

Wednesday (Feb 19)

• Morning: ADI ATHM BHC BCOR APRN FUN DISH ELAN ENBL ETR FVRR FDP GRMN GEL THRM GPC GLDD HEP IART NHI DNOW OC STNG SSW SAH SMP VPG WING
• Afternoon: AGI ALB Y ALSN CRMT AROC CAR AXTI SAM BCOV CAKE XEC CDE CYH CONE ESRT EIG ET FARO FIVN LOPE GDOT HCR HNI HST H IAG ICLR IMAX INOV IVR NVTA JACK JBT KALU KBR KL LSI MX MANT MASI MOS MSA LASR NE NDSN OIS OGS OSUR OR OVV PAAS PE PRDO PXD QTWO O RETA RBBN RPT SNBR SM SED SPTN STMP SUI SUN SNPS TVTY TSLX TRN UCTT UFPI VMI HCC WMB ZG

Thursday (Feb 20)

• Morning: AAN AKS AEP ARD AAWW BRC CAMT CBZ CLF COMM CSTM COT DNR DPZ EPAM FOCS GIL HEES HSIC HFC HRL HPP IDA ITGR I IDCC LAMR LXP LKQ MD MFA NEM NCLH OPI PCRX PQG RCM RS RGEN SHLX SIX SO STFC SCL STOR SYNH TFX TNC TEN TXMD VTR VIAC VC WIX
• Afternoon: ADSW LNT COLD APPN ATR BAND BJRI BYD BVN BLDR COG CAI CATM CASA CWST CENX ED CNDT CORT CVA CUBE DRH BOOM DBX DCO EHTH EBS ENV EVRG FSLY FSLR FND GLPI GMED HTGC HBM LTHM MMI NBR NCMI NGHC NUVA OEC PEB PPC PRAH PRA PBYI RMAX RWT ROG SBAC SWM SEM SFM SSRM TXRH TMST TRUE OLED VAL VICI WK ZIXI ZS

Friday (Feb 21) 

• Morning: BCPC B CNK CFX DE ERF HSC HMSY ITT MGA PNW RY TECK WPC

Notable earnings reports:
Walmart (WMT), Agilent (NYSE:A), Herbalife (NYSE:HLF), Groupon (NASDAQ:GRPN) and Scientific Games (NASDAQ:SGMS) on February 18; IMAX (NYSE:IMAX), Blue Apron (NYSE:APRN), Wingstop (NASDAQ:WING), Albermarle (NYSE:ALB), Hyatt Hotels (NYSE:H), Sunoco (NYSE:SUN), Dish Network (NASDAQ:DISH) and Zillow (NASDAQ:ZG) on February 19; Norwegian Cruise Line Holdings (NYSE:NCLH), (NASDAQ:VIAC), Domino's Pizza (NYSE:DPZ), Universal Display (NASDAQ:OLED) and Dropbox (NASDAQ:DBX) on February 20; Diana Shipping (NYSE:DSX), Royal Bank of Canada (NYSE:RY) and Deere (NYSE:DE) on February 21.

-=Advance Auto (AAP) reported earnings on Tue 13 Nov 2018 (b/o)

Advance Auto beats by $0.13, beats on revs; raises FY18 revenue and comp guidance;Q3 comps +4.6% 

• Reports Q3 (Sep) earnings of $1.89 per share, excluding non-recurring items, $0.13 better than the S&P Capital IQ Consensus of $1.76; revenues rose 4.3% year/year to $2.27 bln vs the $2.23 bln S&P Capital IQ Consensus.
• Comparable store sales increased 4.6%. 
• Co issues raised guidance for FY18, sees FY18 revs of $9.55-9.60 bln from $9.3-9.5 bln, excluding non-recurring items, vs. $9.49 bln S&P Capital IQ Consensus. Co sees FY18 comp guidance of +2.0-2.5% versus +0.0-1.5%.

Earnings this week : November 12 - 16, 18 (wk 46)

Earnings confirmed to report this week:

Monday (Nov 12) 

• Morning: ACB ACM ATHM
• Afternoon:  APU EB EQH EXPI FOCS HUYA KRNT NVGS TDW UGI VERI YRD YY

Tuesday (Nov 13)

• Morning:   AAP ARMK BZH CAE DQ EPC EYE GDS HD TSN
• Afternoon:  AMRS CDLX CWK HI HOLI MTSI ORIG PETQ REZI SSTI SVMK SWCH TLRY VREX WIX

Wednesday (Nov 14)

• Morning:  APRN BPMP CGC CVIA GOOS LX M MTOR QIWI
• Afternoon: CPA CSCO NTAP NTES PRSP SFS VIPS WPM ZTO

Thursday (Nov 15)

• Morning: BERY BRC CSIQ CUB DDS ENR JCP LXFT MANU SPH SR TK TNK WMT WUBA
• Afternoon: AMAT CRMT DWCH ESE GLOB HTHT JWN MATW  NGVC  NVDA POST SCVL SONO WAIR WSM

Friday (Nov 16)

• Morning: HP FRO  VIAB

=Advance Auto (AAP) reported earnings on Tue 14 Aug 2018 (b/o)

Advance Auto beats by $0.11, beats on revs; raises FY18 rev guidance; Q2 comps +2.8% 

• Reports Q2 (Jun) earnings of $1.97 per share, $0.11 better than the Capital IQ Consensus of $1.86; revenues rose 2.8% year/year to $2.33 bln vs the $2.26 bln Capital IQ Consensus. Comparable store sales for the second quarter of 2018 increased 2.8%.
• Co issues raised guidancefor FY18, sees FY18 revs of $9.3-9.5 bln vs. $9.38 bln Capital IQ Consensus Estimate. Co raises FY18 comps of 0.0-1.5% from (2.0%) - 0.0% prior.
• On August 8, 2018, the Company's Board of Directors authorized a $600 million share repurchase program. This new authorization replaces the Company's $500 million share repurchase program authorized in May 2012, which had $415 million remaining.

Earnings this week : Aug 13 - 17, 18 (wk 33)

Earnings confirmed to report this week:

Monday (August 13)

• Morning: CNNE  JKS  SYY TSG  
• Afternoon: AG  HUYA  SWCH TDW VERI  VIPS YY 

Tuesday (Aug 14)

• Morning: AAP ARRY BZUN CAE CDK CSIQ  CVIA EAT EYE GDS HD MMYT TPR 
• Afternoon: A CASA CDLX CGC CREE DDS FENG HOLI MYGN PETQ VIAV  WPM

Wednesday (Aug 15)

• Morning: LXFT M MSGN  PFGC
• Afternoon: BGG CACI CSCO NTAP SPTN

Thursday (Aug 16)

• Morning: DESP JCP JD MSG QIWI WMT   WUBA
• Afternoon: AMAT ATGE  JWN  NVDA  ZOES

Friday (Aug 17)

• Morning: DE

=Advance Auto (AAP) reported earnings on Tue 22 May 18 (b/o)

Advance Auto beats by $0.14, misses on revs' Q1 comps -0.8% 

• Reports Q1 (Mar) earnings of $2.10 per share, excluding non-recurring items, $0.14 better thanthe Capital IQ Consensus of $1.96; revenues fell 0.6% year/year to $2.87 bln vs the $2.91 bln Capital IQ Consensus.
• Comparable store sales for the first quarter decreased 0.8%. The Company's Gross Profit margin increased 32 basis points in the first quarter to 44.3% from 44.0% in the first quarter of the prior year. The increase was primarily driven by a reduction in material costs and related items.

=Advance Auto (AAP) reported earnings on Wed 21 Feb 2018 (b/o)

Advance Auto beats by $0.13, beats on revs; guides FY18 revs below consensus

• Reports Q4 (Dec) earnings of $0.77 per share, excluding non-recurring items, $0.13 better than the Capital IQ Consensus of $0.64; revenues fell 2.2% year/year to $2.04 bln vs the $2.01 bln Capital IQ Consensus.
• Comparable store sales for the quarter decreased 2.6%.
• Co issues downside guidance for FY18, sees FY18 revs of $9.1-9.4 bln vs. $9.54 bln Capital IQ Consensus Estimate; sees Comparable Store Sales down 2% to flat

=Advance Auto (AAP) reported earnings on Tue 14 Nov 17 (b/o)

Advance Auto beats by $0.22, misses on revs; reaffirms FY17 same store sales guidance  

• Reports Q3 (Sep) earnings of $1.43 per share, excluding non-recurring items, $0.22 better than the Capital IQ Consensus of $1.21; revenues fell 3.0% year/year to $2.18 bln vs the $2.21 bln Capital IQ Consensus.
  • Gross Profit margin decreased 51 basis points year-over-year to 43.4%.
  • Adjusted SG&A was 35.5% of net sales, a 127 basis point increase year-over-year.
• The Company reaffirmed the following FY17 guidance:
  • New Stores 60-65 new stores 
  • Comparable Store Sales -3% to -1%
  • Adjusted Operating Income Rate 200 to 300 basis points year over year reduction 
  • Free Cash Flow Minimum $300 million 

=Advance Auto (AAP) reported earnings on Tue 15 Aug 17 (b/o)

Advance Auto misses by $0.08, reports revs in-line; provides updated FY17 outlook(109.32 )

• Reports Q2 (Jun) earnings of $1.58 per share, excluding non-recurring items, $0.08 worse than the Capital IQ Consensus of $1.66; revenues rose 0.3% year/year to $2.26 bln vs the $2.26 bln Capital IQ Consensus.
• Comparable store sales for the quarter were flat.
• The Company's Gross Profit margin decreased 91 basis points year over year to 43.9%. The decline was primarily driven by the non-cash accounting impact of the planned inventory reduction as well as the increase in supply chain costs, unfavorable mix and commodity headwinds. These factors were partially offset by the Company's efforts to drive favorable material cost performance. The non-cash accounting impact of the year over year inventory reduction was 26 basis points in Q2. Excluding the non-cash accounting impact of the inventory reduction, the Company's Gross Profit margin decreased 65 basis points year over year.
• The Company provided the following update to its full fiscal year 2017 guidance:
  • New Stores 60-65 new stores
  • Comparable Store Sales -3% to -1%
  • Adjusted Operating Income Rate 200 to 300 basis points year over year reduction
• "Our revised guidance for the year incorporates the impact of industry headwinds in the first half, which we expect to continue in the second half of the year and we are taking the appropriate actions to adapt to this environment."

=O'Reilly Automotive (ORLY) warns of weaker-than-expected comps

• Worst day ever for ORLY

O'Reilly Auto sees Q2 comps +1.7% vs. +3-5% guidance :

• comparable store sales results of 1.7%, which fell short of previously issued second quarter comparable store sales guidance of 3% to 5%, and announced the release date for its full second quarter 2017 results as Wednesday, July 26, 2017, with a conference call to follow on Thursday, July 27, 2017.
• Greg Henslee, O'Reilly's CEO stated, "After exiting the first quarter and entering April on an improved sales trend, we faced a more challenging sales environment than we expected for the remainder of the quarter. Our second quarter comparable store sales results of 1.7% represent an improvement over our first quarter, but fell below our guidance of 3% to 5%, due to what we believe were continued headwinds from a second consecutive mild winter and overall weak consumer demand. The comparable store sales shortfall will also have a consequent impact on our operating profitability, which we will report in our full second quarter earnings release on July 26th." Mr. Henslee added, "While we are disappointed with our sales results in the first half of the year, we remain confident in the long-term health of our industry and our team's ability to provide exceptional customer service and take market share in this challenging demand environment."
• Peers: AAP, AZO, GPC

=Advance Auto (AAP) reported earnings on Wed 24 May 2017 (b/o)

Advance Auto misses by $0.54, misses on revs; Q1 comps decline 2.7%:

• Reports Q1 (Mar) earnings of $1.60 per share, excluding non-recurring items, $0.54 worse than the Capital IQ Consensus of $2.14; revenues fell 3.0% year/year to $2.89 bln vs the $2.94 bln Capital IQ Consensus.
• Co reports Q1 comps of (2.7%) vs (1.9%) last year.
• "As in the past several quarters, our operating margin reflects our deliberate choices to restore investments in the customer and improve overall service and delivery. In addition to making these critical customer investments, we are increasing and accelerating our initial gross productivity target of $500 million over 5 years to $750 million over 4 years."

=Advance Auto (AAP) reported earnings on Mon 14 November 2016 (a/h)

Advance Auto beats by $0.02, beats on revs :

• Reports Q3 (Sep) earnings of $1.73 per share, excluding non-recurring items, $0.02 better than the Capital IQ Consensus of $1.71; revenues fell 2.0% year/year to $2.25 bln vs the $2.2 bln Capital IQ Consensus
  • The sales decline was driven by the comparable store sales decrease of 1.0%, the store closures in 2015 and the effect of Carquest store consolidations. The sales decline was partially offset by new store and Worldpac branch openings
  • The co's Gross Profit rate was 43.9% of sales during the third quarter as compared to 45.0% during the third quarter last year. The 104 basis-point decrease in gross profit rate was primarily the result of higher supply chain expenses and headwinds associated with reducing inventory levels

======Advance Auto (AAP) reported earnings on Tue 8/16/16 (b/o)

Advance Auto misses by $0.21, reports revs in-line :

• Reports Q2 (Jun) earnings of $1.90 per share, which excludes amortization of acquired intangible assets and integration and restructuring costs primarily associated with the acquisition of General Parts International, $0.21 worse than the Capital IQ Consensus of $2.11; revenues fell 4.8% year/year to $2.26 bln vs the $2.24 bln Capital IQ Consensus.
  • The sales decline was driven by the comparable store sales decrease of 4.1%, the store closures in 2015 and the effect of Carquest consolidations. The sales decline was partially offset by new store and Worldpac branch openings.
• "Our second quarter results were not acceptable and we are moving thoughtfully and swiftly to make the necessary changes across a number of critical areas within the organization to alter the trajectory of the business and improve our operating performance," said Tom Greco, Chief Executive Officer. "There's a heightened sense of urgency and accountability throughout the organization and we are taking decisive actions to deliver near-term improvement with a focus on accelerating our commercial growth and improving our execution."

=Advance Auto (AAP) reported earnings on Thur 5/19/16 (b/o)

Advance Auto misses by $0.10, reports revs in-line; sees annual comps below expectations; CFO Mike Norona to leave the company  :

• Reports Q1 (Mar) earnings of $2.51 per share, excluding non-recurring items, $0.10 worse than the Capital IQ Consensus of $2.61; revenues fell 1.9% year/year to $2.98 bln vs the $3 bln Capital IQ Consensus. 
• "Our first quarter results did not meet our expectations...We are moving forward with urgency to drive improved performance. Our customers are our top priority and we are elevating our intensity to get the right parts to the right place at the right time as we empower our team members to serve the customer better than anyone else."
• Outlook: Due to the sales trends the Company experienced as it exited its first quarter and outlook for the balance of the year, the assumption for annual comparable store sales is now expected to be between negative 3% and negative 5% (below Street expectations)and given this updated assumption, the Company no longer expects to achieve its annual Free Cash Flow assumption of a minimum of $500 million for fiscal 2016. In addition, the Company is no longer targeting an Adjusted Operating Income (a) rate of 12% for fiscal 2016.
• Co also announced that Mike Norona, Chief Financial Officer, will be leaving the Company. Mr. Norona has agreed to remain in his current role until a successor has been named and will assist with an orderly transition. The Company has commenced an external search for a new CFO.

Advance Auto Parts (AAP) reported earnings Thur 12 Nov 15 (b/o)

** charts before earnings **

** charts after earnings **

Advance Auto misses by $0.14, misses on revs, lowers FY15 EPS guidance; comps +0.5%; CEO retires, announces agreement with Starboard Value :

Reports Q3 (Sep) earnings of $1.95 per share, $0.14 worse than the Capital IQ Consensus of $2.09; revenues rose 0.2% year/year to $2.3 bln vs the $2.33 bln Capital IQ Consensus.

• Co lowers guidance for FY15, sees EPS of $7.75-7.95 (prior $8.10-8.30) vs. $8.28 Capital IQ Consensus Estimate. "This revised outlook assumes flat to slightly negative fourth quarter comparable store sales, roughly flat year over year fourth quarter gross margin rate and achievement of our full year synergies estimate of between $45 million and $55 million for the full year."
• Additionally, as part of its on-going process of store evaluations, the Company has further identified, and is subsequently planning to close an additional 30 stores in the latter part of 2015. The one-time expense impact of these closures is expected to be between $10 and $15 million in 2015.