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Old 03-11-2013, 04:24 PM
 
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This is the company the city & state lured here with $22M of taxpayer money. Their first year in Charlotte hasn't been good to them. I heard they were going to hold their earnings announcement until after the market closed. (never a good sign)

Chiquita lost $408 million in 2012 | CharlotteObserver.com
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Old 03-11-2013, 04:44 PM
 
Location: Charlotte
1,356 posts, read 2,535,682 times
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Quote:
Originally Posted by frewroad View Post
This is the company the city & state lured here with $22M of taxpayer money. Their first year in Charlotte hasn't been good to them. I heard they were going to hold their earnings announcement until after the market closed. (never a good sign)

Chiquita lost $408 million in 2012 | CharlotteObserver.com
Chiquita has been loosing money for years. Their move to Charlotte has nothing to do with it.
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Old 03-11-2013, 05:03 PM
 
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Originally Posted by fltonc12 View Post
Chiquita has been loosing money for years. Their move to Charlotte has nothing to do with it.
They did not lose money in 2011.
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Old 03-11-2013, 05:26 PM
 
2,554 posts, read 4,521,638 times
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Quote:
Chiquita moved from Cincinnati to Charlotte last year, lured in part by more than $22 million worth of state and local incentives. The company promised to bring about 400 jobs. Chiquita cut about 15 jobs at its Charlotte headquarters as part of the restructuring last year, but was still ahead of its hiring goals for the incentives.

Lonergan remained upbeat. “Chiquita has made significant progress implementing its refocused strategic direction in the second half of 2012, and is well positioned for future growth,” he said.

Portillo: 704-358-5041 On Twitter @ESPortillo


Read more here: Chiquita lost $408 million in 2012 | CharlotteObserver.com
Restructuring loses, no big deal. They seem to be on target with hiring goals.
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Old 03-11-2013, 05:45 PM
 
Location: Charlotte
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Originally Posted by frewroad View Post
They did not lose money in 2011.
http://freshcut.com/index.php/news/release/16156/

Yes they did.
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Old 03-11-2013, 06:04 PM
 
3,914 posts, read 4,573,614 times
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Originally Posted by fltonc12 View Post
[url]
Yes they did.
No, From the article I posted.

The company lost $8.85 a share in 2012, compared to a $1.25 per share profit in 2011.

Excluding one-time, non-comparable charges, Chiquita would have had a $7 million profit for the year, the company said.
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Old 03-11-2013, 06:12 PM
 
3,200 posts, read 4,364,058 times
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Quote:
Originally Posted by frewroad View Post
This is the company the city & state lured here with $22M of taxpayer money. Their first year in Charlotte hasn't been good to them. I heard they were going to hold their earnings announcement until after the market closed. (never a good sign)

Chiquita lost $408 million in 2012 | CharlotteObserver.com
By bringing incentives into the mix, are you suggesting Charlotte made a mistake? We're the incentives cash payments or reduced taxes? Anything other than a direct payment would not constitute taxpayer money.

As for the financials, read a little before posting headlines that you don't understand just to make a political point. Revenue growth was higher than analyst expectations. The loss stemmed from one time events which is not unusual when restructuring a business. Analyst's profit expectations For future quarters has risen from .35/share to .43/share. In other words, the analyst are seeing positive operational results within the company and market to raise profit predictions.

It's one thing to post on this board for discussion purposes and another to post headlines without mentioning material items just to make a political point. So far this week, this is the third thread in which you have been a major participant and been completely wrong or misleading with facts.
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Old 03-11-2013, 06:24 PM
 
6,318 posts, read 9,483,361 times
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Originally Posted by fltonc12 View Post
Chiquita has been loosing money for years. Their move to Charlotte has nothing to do with it.
They lost money in the fourth quarter of 2011, but made $38 million for the year.

Here's a link to their Annual Reports: Chiquita - Investor Relations -*Investors Overview

and a quote from the 2011 report:
Quote:
2011 marked Chiquita’s fourth straight year of delivering profitable results, with $38 million of comparable income for the year.
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Old 03-11-2013, 06:39 PM
 
Location: Cincinnati(Silverton)
1,586 posts, read 2,647,422 times
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^You can downplay it, but it does not look good. Those profits are very low for a multi-billion dollar company.
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Old 03-11-2013, 06:52 PM
 
6,318 posts, read 9,483,361 times
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I wan't really commenting on it, just pointing it out. But still, a profit is certainly better than a loss.
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