Goldman Sachs (GS) Blows Past Street EPS Estimates, Announces $5B Equity Offering To Possibly Payback TARP
GS Hot Sheet
EPS Growth %: +151.3%Financial Fact:
Professional fees: 234M
Today's EPS Names:
TARO, BRLI, TLB, More
Goldman Sachs Group, Inc. (NYSE: GS) reported Q1 EPS of $3.39, well above the consensus of $1.64. Net revenues came in at $9.43 billion.
Separately, Goldman Sachs announced that it has commenced a public offering of $5 billion of its common stock for sale to the public. After the completion of the stress assessment, if permitted by supervisors and if supported by the results of the stress assessment, Goldman Sachs would like to use the capital raised plus additional resources to redeem all of the TARP capital.
Goldman's Tier 1 Ratio under Basel II (3) was 16.0% at the end of the first quarter of 2009, up from 15.6% as of November 28, 2008. The firm’s Tier 1 Ratio under Basel I (3) was 13.7% at the end of the first quarter of 2009.
Net revenues in Investment Banking were $823 million, 30% lower than the first quarter of 2008 and 20% lower than the fourth quarter of 2008.
Net revenues in Trading and Principal Investments were $7.15 billion, compared with net revenues of $5.12 billion for the first quarter of 2008 and negative net revenues of $4.36 billion for the fourth quarter of 2008.
Net revenues in Asset Management and Securities Services were $1.45 billion, 29% lower than the first quarter of 2008 and 17% lower than the fourth quarter of 2008.
Compensation and benefits expenses (including salaries, discretionary compensation, amortization of prior year equity awards and other items such as payroll taxes, severance costs and benefits) were $4.71 billion, 18% higher than the first quarter of 2008, primarily due to higher net revenues.
Non-compensation expenses, excluding consolidated entities held for investment purposes, were $1.62 billion, 21% lower than the first quarter of 2008 and 25% lower than the fourth quarter of 2008.
As of March 27, 2009, total capital was $252.08 billion, consisting of $63.55 billion in total shareholders' equity (common shareholders' equity of $47.05 billion and preferred stock of $16.51 billion) and $188.53 billion in unsecured long-term borrowings. Book value per common share was $98.82 and tangible book value per common share was $88.02, both essentially unchanged from November 28, 2008.
The Board of Directors of The Goldman Sachs Group, Inc. declared a dividend of $0.35 per common share to be paid on June 25, 2009 to common shareholders of record on May 26, 2009.
UPDATE: Click here to see some highlights from Goldman's very interesting Q1 conference call.
Separately, Goldman Sachs announced that it has commenced a public offering of $5 billion of its common stock for sale to the public. After the completion of the stress assessment, if permitted by supervisors and if supported by the results of the stress assessment, Goldman Sachs would like to use the capital raised plus additional resources to redeem all of the TARP capital.
Goldman's Tier 1 Ratio under Basel II (3) was 16.0% at the end of the first quarter of 2009, up from 15.6% as of November 28, 2008. The firm’s Tier 1 Ratio under Basel I (3) was 13.7% at the end of the first quarter of 2009.
Net revenues in Investment Banking were $823 million, 30% lower than the first quarter of 2008 and 20% lower than the fourth quarter of 2008.
Net revenues in Trading and Principal Investments were $7.15 billion, compared with net revenues of $5.12 billion for the first quarter of 2008 and negative net revenues of $4.36 billion for the fourth quarter of 2008.
Net revenues in Asset Management and Securities Services were $1.45 billion, 29% lower than the first quarter of 2008 and 17% lower than the fourth quarter of 2008.
Compensation and benefits expenses (including salaries, discretionary compensation, amortization of prior year equity awards and other items such as payroll taxes, severance costs and benefits) were $4.71 billion, 18% higher than the first quarter of 2008, primarily due to higher net revenues.
Non-compensation expenses, excluding consolidated entities held for investment purposes, were $1.62 billion, 21% lower than the first quarter of 2008 and 25% lower than the fourth quarter of 2008.
As of March 27, 2009, total capital was $252.08 billion, consisting of $63.55 billion in total shareholders' equity (common shareholders' equity of $47.05 billion and preferred stock of $16.51 billion) and $188.53 billion in unsecured long-term borrowings. Book value per common share was $98.82 and tangible book value per common share was $88.02, both essentially unchanged from November 28, 2008.
The Board of Directors of The Goldman Sachs Group, Inc. declared a dividend of $0.35 per common share to be paid on June 25, 2009 to common shareholders of record on May 26, 2009.
UPDATE: Click here to see some highlights from Goldman's very interesting Q1 conference call.
You May Also Be Interested In
- UPDATE: CORRECTION: MOCON, Inc. (MOCO) Declares $0.105 Quarterly Dividend; 2.7% Yield
- UPDATE: Eaton (ETN) to Buy Cooper Industries (CBE) in Cash, Stock Deal Valued at $72/Share
- Hagens Berman Investigates Facebook Underwriter Revenue Selective Disclosure Ahead of IPO, Notifies Investors of Class Action
Create E-mail Alert Related Categories
Dividends, Earnings, Equity Offerings, Hot ListRelated Entities
Goldman Sachs, DividendSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
