Not exact matches
Important factors that could cause actual results to differ materially from those reflected in such forward - looking statements and that should be considered in evaluating our outlook include, but are not limited to, the following: 1) our ability to continue to grow our business and execute our
growth strategy, including the timing, execution, and profitability of new and maturing programs; 2) our ability to perform our obligations under our new and maturing commercial, business aircraft, and military development programs, and the related recurring production; 3) our ability to accurately
estimate and manage performance, cost, and revenue under our contracts, including our ability to achieve certain cost reductions with respect to the B787 program; 4) margin pressures and the potential for additional forward losses
on new and maturing programs; 5) our ability to accommodate, and the cost of accommodating, announced increases in the build
rates of certain aircraft; 6) the effect
on aircraft demand and build
rates of changing customer preferences for business aircraft, including the effect of global economic conditions
on the business aircraft market and expanding conflicts or political unrest in the Middle East or Asia; 7) customer cancellations or deferrals as a result of global economic uncertainty or otherwise; 8) the effect of economic conditions in the industries and markets in which we operate in the U.S. and globally and any changes therein, including fluctuations in foreign currency exchange
rates; 9) the success and timely execution of key milestones such as the receipt of necessary regulatory approvals, including our ability to obtain in a timely fashion any required regulatory or other third party approvals for the consummation of our announced acquisition of Asco, and customer adherence to their announced schedules; 10) our ability to successfully negotiate, or re-negotiate, future pricing under our supply agreements with Boeing and our other customers; 11) our ability to enter into profitable supply arrangements with additional customers; 12) the ability of all parties to satisfy their performance requirements under existing supply contracts with our two major customers, Boeing and Airbus, and other customers, and the risk of nonpayment by such customers; 13) any adverse impact
on Boeing's and Airbus» production of aircraft resulting from cancellations, deferrals, or reduced orders by their customers or from labor disputes, domestic or international hostilities, or acts of terrorism; 14) any adverse impact
on the demand for air travel or our operations from the outbreak of diseases or epidemic or pandemic outbreaks; 15) our ability to avoid or recover from cyber-based or other security attacks, information technology failures, or other disruptions; 16) returns
on pension plan assets and the impact of future discount
rate changes
on pension obligations; 17) our ability to borrow additional funds or refinance debt, including our ability to obtain the debt to finance the purchase price for our announced acquisition of Asco
on favorable terms or at all; 18) competition from commercial aerospace original equipment manufacturers and other aerostructures suppliers; 19) the effect of governmental laws, such as U.S. export control laws and U.S. and foreign anti-bribery laws such as the Foreign Corrupt Practices Act and the United Kingdom Bribery Act, and environmental laws and agency regulations, both in the U.S. and abroad; 20) the effect of changes in tax law, such as the effect of The Tax Cuts and Jobs Act (the «TCJA») that was enacted
on December 22, 2017, and changes to the interpretations of or guidance related thereto, and the Company's ability to accurately calculate and
estimate the effect of such changes; 21) any reduction in our credit
ratings; 22) our dependence
on our suppliers, as well as the cost and availability of raw materials and purchased components; 23) our ability to recruit and retain a critical mass of highly - skilled employees and our relationships with the unions representing many of our employees; 24) spending by the U.S. and other governments
on defense; 25) the possibility that our cash flows and our credit facility may not be adequate for our additional capital needs or for payment of interest
on, and principal of, our indebtedness; 26) our exposure under our revolving credit facility to higher interest payments should interest
rates increase substantially; 27) the effectiveness of any interest
rate hedging programs; 28) the effectiveness of our internal control over financial reporting; 29) the outcome or impact of ongoing or future litigation, claims, and regulatory actions; 30) exposure to potential product liability and warranty claims; 31) our ability to effectively assess, manage and integrate acquisitions that we pursue, including our ability to successfully integrate the Asco business and generate synergies and other cost savings; 32) our ability to consummate our announced acquisition of Asco in a timely matter while avoiding any unexpected costs, charges, expenses, adverse changes to business relationships and other business disruptions for ourselves and Asco as a result of the acquisition; 33) our ability to continue selling certain receivables through our supplier financing program; 34) the risks of doing business internationally, including fluctuations in foreign current exchange
rates, impositions of tariffs or embargoes, compliance with foreign laws, and domestic and foreign government policies; and 35) our ability to complete the proposed accelerated stock repurchase plan, among other things.
On top of the more buoyant outlook for overall
growth, Fed officials cut their
estimates for the unemployment
rate, to 3.9 percent in 2018 and 2019, two - tenths below the previous numbers.
This paper, however, proposes a different approach: Before pressing the overdrive button
on money printing presses, Tokyo might wish to take a careful look at why the last 15 years of ultra-loose credit policies failed to move the economy closer to its
estimated potential
growth rate of 1.5 percent.
Based
on a formula incorporating prescription
growth, reimbursment levels — growing to 45 % by year's end from 25 % in the first quarter — plus drop - out
rates and payer discount
estimates, Leerink is looking for $ 320 million from Dupixent this year, $ 206 million of that in the U.S.
Echelon is now focusing its
growth on «smart» commercial & municipal LED lighting (although its fab-less chip business has apparently now stabilized after a long decline), and if the lighting business accelerates (and it could, due to recent sales force hires and new products), I think there's a chance it can hit a break - even annualized revenue run -
rate of $ 40 million by Q4 - 2019 (pushed back from my earlier hoped - for timeline) at which point — assuming $ 14 million of remaining net cash (vs. an
estimated $ 18 million at the end of Q2 2018) and 4.7 million shares outstanding (vs 4.52 million today), an enterprise value of 1x revenue
on this 53 % gross margin company would put the stock in the mid - $ 11s per share.
We expect the tax bill to offer moderate economic stimulus — various
estimates suggest it could add 0.3 to 0.4 points to real GDP
growth annually — primarily through increased corporate investment in response to the higher after - tax return
on investment resulting from the lower 21 % corporate tax
rate.
I have little doubt that this
estimate was obtained by some version of the dividend discount model: Price = D / (k - g), where Ed Kershner decided to pick a long - term return
on stocks k really, really close to the long term
growth rate of dividends g. Gee, why didn't he just go ahead and set them equal and shoot for thrills?
Trump delays metal tariffs
on EU, Mexico and Canada: Reuters Special Counsel Mueller has far - ranging questions for Trump: NY Times US consumer spending and price inflation picked up in March: Reuters Pending homes sales in March for US point to subdued
growth: CNBC Dallas Fed Mfg Index: mfg activity rebounded «strongly» in April: Dallas Fed Chicago PMI edges up in Apr, remains relatively subdued vs. recent history: MW Fed expected to hold
rates steady this week and raise
rates in June: Reuters Rising gas prices
on track to deliver most expensive driving season since 2014: AP Initial Q2 GDPNow
estimate for US economy is a strong 4.1 %: Atlanta Fed US Treasury in Q1: 2018 borrowed the most since 2008: Bloomberg
Global spending
on drones is likely to reach $ 9 billion this year and is expected to grow at a compound annual
growth rate of 30 percent in the next five years, according to research firm IDC, which
estimates more than half of that spending will be
on drones for commercial use.
The labor market in Fargo shows a lot of promise, as the city has the second - lowest unemployment
rate on our list, behind only neighboring Sioux Falls, S.D. And, future job
growth over the next 10 years is
estimated at nearly 43 percent, according to Sperling's.
As a rule, a good
estimate of the «yield - to - maturity»
on stocks is the 6 % long term
growth rate plus the dividend yield.
Broader inflation data painted a similar picture: core consumer price
growth for July was 0.1 % month -
on - month — falling short of consensus
estimates and marking the fourth consecutive monthly rise of 0.1 % — to leave the annual
rate unchanged at 1.7 %.
But as I noted last week (see Two Point Three Sigmas Above the Norm), nominal
growth and interest
rate variations have historically canceled out over the past century, with little effect
on the accuracy of our valuation
estimates — matched reductions in the
growth rate and the discount
rate really don't affect fair value.
Tertiary Degree Graduates Aged 25 - 34 (in millions) Tertiary Degrees By Percentage of OECD And G20 Total * OECD
estimate based
on the same average annual
growth rate as that observed between 2000 and 2009 + Germany and...
«The question that we should ask is how can you inherit a budget deficit of 9.3 % of GDP, proceed to reduce taxes, bring down inflation, bring down interest
rates, increase economic
growth (from 3.6 % to 7.9 %), increase your international reserves, maintain relative exchange
rate stability, reduce the debt to GDP ratio and the
rate of debt accumulation, pay almost half of arrears inherited, stay current
on obligations to statutory funds, restore teacher and nursing training allowances, double the capitation grant, implement free senior high school education and yet still be able to reduce the fiscal deficit from 9.3 % to an
estimated 5.6 % of GDP?
A 2011 report issued by the American Geophysical Union (AGU), Status of the Geoscience Workforce, argued that based
on graduation
rates of geoscience graduate students (approximately 1500 per year) and job -
growth numbers from the Bureau of Labor Statistics, there will be a U.S. workforce «shortfall»
estimated at 30,000 geoscientists by 2018.
Based
on existing field data, it's
estimated that: 40 % of online dating services will have incorporated smart tech by 2026 90 % of online dating services will have incorporated smart tech by 2036 30 % of relationships will start by online dating by 2026 40 % of relationships will start by online dating by 2036 Population
growth rate of 1 %
To
estimate the impact of knowledge capital
on GDP, Hanusek et al. compare the
rate of GDP
growth from 1970 to 2010 with the average knowledge capital of a state's workers.
Of course, these are
estimates and are based
on the
growth rate the tablet segment has been experiencing over the years.
Such statements reflect the current views of Barnes & Noble with respect to future events, the outcome of which is subject to certain risks, including, among others, the general economic environment and consumer spending patterns, decreased consumer demand for Barnes & Noble's products, low
growth or declining sales and net income due to various factors, possible disruptions in Barnes & Noble's computer systems, telephone systems or supply chain, possible risks associated with data privacy, information security and intellectual property, possible work stoppages or increases in labor costs, possible increases in shipping
rates or interruptions in shipping service, effects of competition, possible risks that inventory in channels of distribution may be larger than able to be sold, possible risks associated with changes in the strategic direction of the device business, including possible reduction in sales of content, accessories and other merchandise and other adverse financial impacts, possible risk that component parts will be rendered obsolete or otherwise not be able to be effectively utilized in devices to be sold, possible risk that financial and operational forecasts and projections are not achieved, possible risk that returns from consumers or channels of distribution may be greater than
estimated, the risk that digital sales
growth is less than expectations and the risk that it does not exceed the
rate of investment spend, higher - than - anticipated store closing or relocation costs, higher interest
rates, the performance of Barnes & Noble's online, digital and other initiatives, the success of Barnes & Noble's strategic investments, unanticipated increases in merchandise, component or occupancy costs, unanticipated adverse litigation results or effects, product and component shortages, the potential adverse impact
on the Company's businesses resulting from the Company's prior reviews of strategic alternatives and the potential separation of the Company's businesses, the risk that the transactions with Microsoft and Pearson do not achieve the expected benefits for the parties or impose costs
on the Company in excess of what the Company anticipates, including the risk that NOOK Media's applications are not commercially successful or that the expected distribution of those applications is not achieved, risks associated with the international expansion contemplated by the relationship with Microsoft, including that it is not successful or is delayed, the risk that NOOK Media is not able to perform its obligations under the Microsoft and Pearson commercial agreements and the consequences thereof, risks associated with the restatement contained in, the delayed filing of, and the material weakness in internal controls described in Barnes & Noble's Annual Report
on Form 10 - K for the fiscal year ended April 27, 2013, risks associated with the SEC investigation disclosed in the quarterly report
on Form 10 - Q for the fiscal quarter ended October 26, 2013, risks associated with the ongoing efforts to rationalize the NOOK business and the expected costs and benefits of such efforts and associated risks and other factors which may be outside of Barnes & Noble's control, including those factors discussed in detail in Item 1A, «Risk Factors,» in Barnes & Noble's Annual Report
on Form 10 - K for the fiscal year ended April 27, 2013, and in Barnes & Noble's other filings made hereafter from time to time with the SEC.
To keep up with rising demand, library spending
on ebooks grew at a compound annual
growth rate of 38 % for the past four years, from $ 30 million in 2009 — according to a Public Libraries Survey conducted by the Institute of Museum and Library Services (IMLS)-- to more than $ 110 million in 2013 — according to a 2013
estimate from the Primary Research Group's report
on library use of ebooks.
Such statements reflect the current views of Barnes & Noble with respect to future events, the outcome of which is subject to certain risks, including, among others, the effect of the proposed separation of NOOK Media, the general economic environment and consumer spending patterns, decreased consumer demand for Barnes & Noble's products, low
growth or declining sales and net income due to various factors, possible disruptions in Barnes & Noble's computer systems, telephone systems or supply chain, possible risks associated with data privacy, information security and intellectual property, possible work stoppages or increases in labor costs, possible increases in shipping
rates or interruptions in shipping service, effects of competition, possible risks that inventory in channels of distribution may be larger than able to be sold, possible risks associated with changes in the strategic direction of the device business, including possible reduction in sales of content, accessories and other merchandise and other adverse financial impacts, possible risk that component parts will be rendered obsolete or otherwise not be able to be effectively utilized in devices to be sold, possible risk that financial and operational forecasts and projections are not achieved, possible risk that returns from consumers or channels of distribution may be greater than
estimated, the risk that digital sales
growth is less than expectations and the risk that it does not exceed the
rate of investment spend, higher - than - anticipated store closing or relocation costs, higher interest
rates, the performance of Barnes & Noble's online, digital and other initiatives, the success of Barnes & Noble's strategic investments, unanticipated increases in merchandise, component or occupancy costs, unanticipated adverse litigation results or effects, product and component shortages, risks associated with the commercial agreement with Samsung, the potential adverse impact
on the Company's businesses resulting from the Company's prior reviews of strategic alternatives and the potential separation of the Company's businesses (including with respect to the timing of the completion thereof), the risk that the transactions with Pearson and Samsung do not achieve the expected benefits for the parties or impose costs
on the Company in excess of what the Company anticipates, including the risk that NOOK Media's applications are not commercially successful or that the expected distribution of those applications is not achieved, risks associated with the international expansion previously undertaken, including any risks associated with a reduction of international operations following termination of the Microsoft commercial agreement, the risk that NOOK Media is not able to perform its obligations under the Pearson and Samsung commercial agreements and the consequences thereof, the risks associated with the termination of Microsoft commercial agreement, including potential customer losses, risks associated with the restatement contained in, the delayed filing of, and the material weakness in internal controls described in Barnes & Noble's Annual Report
on Form 10 - K for the fiscal year ended April 27, 2013, risks associated with the SEC investigation disclosed in the quarterly report
on Form 10 - Q for the fiscal quarter ended October 26, 2013, risks associated with the ongoing efforts to rationalize the NOOK business and the expected costs and benefits of such efforts and associated risks and other factors which may be outside of Barnes & Noble's control, including those factors discussed in detail in Item 1A, «Risk Factors,» in Barnes & Noble's Annual Report
on Form 10 - K for the fiscal year ended May 3, 2014, and in Barnes & Noble's other filings made hereafter from time to time with the SEC.
Using a discounted cash flow analysis (EPS = 5.87, 10 yr
growth rate = 13 % (based
on previous years), terminal
growth rate = 4 %, discount
rate = 10 %) I come up with a fair value
estimate of $ 125.43, in line with the analyst consensus.
All annuity payments are based
on a conservative 2 per cent
growth rate after
estimated 3 per cent inflation.
However, when comparing the price - earnings ratio based
on estimated earnings for the current fiscal year to the
estimated long - term
growth rate in earnings (or
estimated PEG ratio), we see a much different story.
In Apple's case, the software uses a default P / E of 16.9, based
on Apple's
estimated forward
growth rate that we saw earlier.
The 5 - year
estimated annual total return is a calculation based
on the company achieving the
estimated EPS
growth rate and then the stock trading at its earnings justified valuation.
As a rule, a good
estimate of the «yield - to - maturity»
on stocks is the 6 % long term
growth rate plus the dividend yield.
The performance of the forward earnings
estimate is uniformly poor, earning a compound annual
growth rate of just 8.63 percent
on average and underperforming the Standard & Poor's (S&P) 500 by almost 1 percent per year.
One academic study, appropriately entitled «How Do Banks Set Interest
Rates,» estimates that banks base the rates they charge on economic factors, including the level and growth in Gross Domestic Product (GDP) and infla
Rates,»
estimates that banks base the
rates they charge on economic factors, including the level and growth in Gross Domestic Product (GDP) and infla
rates they charge
on economic factors, including the level and
growth in Gross Domestic Product (GDP) and inflation.
(Malkiel appears to use recent history to
estimate the dividend
growth rate, but other methods also exist such as multiplying the market's aggregate return
on equity by its retention ratio, the percentage of earnings that the market does not pay out in dividends.)
It also relies
on the
estimate of the company's
growth rate, which is not a definite number.
Recognising the current & potential
growth trajectory here, we should also factor / average an appropriate earnings multiple into our intrinsic value
estimate: With earnings up 21 % & 70 % in the last two years, just about any multiple's justified... again, to be prudent, we'll limit ourselves to a 20.0 Price / Earnings ratio, based
on a 123 cents adjusted diluted EPS H2 - 2015 run -
rate:
You can make
estimates based
on historical
growth rates, or based
on future trends that could shape those
growth rates, based
on analysis of how the company is spending its cash, or based
on realistic management projections and a pattern of meeting those projections.
Based
on the low and high end
growth rates,
estimated demands ranges from about 265 to 625 billion cubic feet per day in 2040.
[i] Also, many cost - benefit analyses use high discount
rates to
estimate the future costs of climate change, which is questionable both
on ethical grounds and because it assumes economic
growth can continue indefinitely.
Using the
growth rates from the Assessed 2oC Scenarios and a standard baseline for 2010 demand, oil demand is
estimated to decline
on average from about 95 million barrels per day in 2016 to about 78 million barrels per day in 2040.
- population
growth is expected by all
estimates I've seen to slow down sharply to one - fourth to one - third the past
rate — all the fossil fuels
on this planet by optimistic WEC
estimates contain just enough carbon to get to ~ 1000ppmv CO2 when they are all gone
We assume that between 2005 and 2012 the economy grew at 2.5 % (
on par with recent economist and CBO
estimates of potential GDP
growth), the energy - intensity of the economy declined by 1.9 % a year (the average annual
rate between 1990 and 2005), and the energy mix (and thus carbon - intensity of energy supply) remained constant.
Previous
estimates, including those used by the Intergovernmental Panel
on Climate Change,
estimated a much smaller
growth rate of 2.5 to 5 percent per year for China and surrounding nations.
Complicated economic models have been used to
estimate the effects of cutting emissions
on growth rates.
This conversion facilitates comparison with
estimates of the atmospheric
growth rate based
on in situ observations (e.g. from Mauna Loa, Hawaii).
That 1.1 C is the IPCC low end «sensitivity»
estimate which isn't a scary number at all and in fact is a great number because if that's all it is then the slight warming, mostly in the winter in the higher latitudes, is a great boon to agriculture especially when the biological effect of higher CO2
on green plant
growth rates and water consumption is taken into consideration.
This value is
estimated by the Pension Calculator
on the basis of an assumed
growth rate which can also be decided by you.
At its recent biennial conference for investors and equity analysts, the company (traded
on the New York Stock Exchange under the symbol FRE) said that its total mortgage portfolio in 2001 should grow at a
rate faster than the
estimated growth in outstanding mortgage debt.
The SunTrust price target is based «
on estimates [which] factor in healthy
growth rates and a positive long - term analysis and outlook for the real estate industry.»