Research Desk Line-up: Peak Resorts Post Earnings Coverage
LONDON, UK / ACCESSWIRE / October 5, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Manchester United PLC (NYSE: MANU), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=MANU, following the Company’s announcement of its financial results on September 21, 2017, for the fourth quarter fiscal 2017 (Q4 FY17) and full year fiscal 2017 (FY17). The Manchester, England-based Company’s quarterly total revenue and adjusted basic EPS surged 30.8% and 163.3% y-o-y, respectively; beating market consensus estimates. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member’s account at:
Get more of our free earnings reports coverage from other constituents of the Sporting Activities industry. Pro-TD has currently selected Peak Resorts, Inc. (NASDAQ: SKIS) for due-diligence and potential coverage as the Company reported on September 06, 2017, its financial results for Q1 FY18. Register for a free membership today, and be among the early birds that get access to our report on Peak Resorts when we publish it.
At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on MANU; also brushing on SKIS. With the links below you can directly download the report of your stock of interest free of charge at:
During the quarter ended on June 30, 2017, Manchester United’s total revenue grew to £175.94 million from £134.58 million recorded at the end of Q4 FY16. Total revenues numbers for Q4 FY17 topped market consensus estimates of £160.3 million.
The soccer club’s net income came in at £24.25 million, or 14.79 pence (p) per basic share, in Q4 FY17 compared to net loss of £0.96 million, or 0.58p per basic share, in Q4 FY16. The Company’s adjusted net income increased to £22.93 million, or 13.98p per basic share, in Q4 FY17 from £8.70 million, or 5.31p per basic share, in the previous year’s corresponding quarter. Additionally, Wall Street had expected the Company to report adjusted net income of 8.92p per basic share.
In FY17, Manchester United’s total revenue came in at £581.20 million, up 12.8% from £515.35 million in the previous year. The Company net income increased to £39.17 million, or 23.88p per basic share, in FY17 from £36.37 million, or 22.19p per basic share, in FY16. Meanwhile, the Company reported adjusted net income of £34.78 million, or 21.20p per basic share, in FY17 compared to £40.83 million, or 24.91p per basic share, in FY16.
For the reported quarter, the Company’s operating expenses was £138.12 million versus £126.13 million in Q4 FY16. Meanwhile, operating income came in at £41.15 million in Q4 FY17 compared to £3.50 million in Q4 FY16. Furthermore, Manchester United posted adjusted EBITDA of £69.60 million in Q4 FY17 compared to £49.23 million in the year-ago same quarter.
Revenues by Segments
Manchester United’s Commercial revenues stood at £67.9 million, or 38.6% of total revenues, in Q4 FY17 compared to £65.2 million, or 48.5% of total revenues, in Q4 FY16. The segment’s sponsorship revenue grew £2.0 million, or 5.3%, y-o-y to £39.6 million in Q4 FY17. Retail, Merchandising, Apparel, & Product Licensing revenue also increased by £0.9 million, or 3.6%, to £25.8 million y-o-y in the reported quarter. However, Mobile & Content revenues fell during Q4 FY17 by £0.2 million, or 7.4%, to £2.5 million y-o-y.
Broadcasting revenues surged £33.4 million, or 70.0%, y-o-y during Q4 FY17 to £81.1 million, primarily attributable to the new Premier League broadcasting rights agreement along with the club’s progression to and success in winning the UEFA Europa League final.
For Q4 FY17, Matchday revenues came in at £26.9 million, rising £5.3 million, or 24.5%, over the prior year’s comparable quarter as the club played two additional home games during the reported quarter.
Cash Flow & Balance Sheet
In full-year FY17, Manchester United’s net cash provided by operating activities were £227.66 million, up from £186.09 million in FY16. During FY17, the Company’s net capital expenditure on property, plant, and equipment increased by £3.2 million y-o-y to £8.3 million. Meanwhile, net capital expenditure on intangible assets rose £42.3 million y-o-y in full-year FY17 to £142.0 million.
Manchester United had £290.27 million in cash and cash equivalents as on June 30, 2017, compared to £229.19 million at the close of books on June 30, 2016. Furthermore, net debt as on June 30, 2017, stood at £213.1 million compared to £260.9 million as on June 30, 2016.
In its guidance for full-year FY18, Manchester United’s management expects revenues to be in the range of £575 million to £585 million. Additionally, adjusted EBITDA for FY18 is forecasted to be between £175 million and £185 million.
Manchester United’s share price finished yesterday’s trading session at $18.20, slightly sliding 0.27%. A total volume of 40.24 thousand shares have exchanged hands. The Company’s stock price rallied 13.75% in the last three months, 7.69% in the past six months, and 7.00% in the previous twelve months. Additionally, the stock surged 27.72% since the start of the year. Shares of the Company have a PE ratio of 56.88 and have a dividend yield of 0.99%. The stock currently has a market cap of $2.94 billion.
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