CORPORATE FINANCIAL REPORTS 2-4-20

The following are recent financial reports as posted by selected Utah corporations:

Extra Space Storage

Extra Space Storage Inc., based in Salt Lake City, reported funds from operations (FFO) attributable to common stockholders and unit holders of $175 million, or $1.26 per share, for the fourth quarter ended Dec. 31. That compares with $162.3 million, or $1.20 per share, for the same quarter a year earlier.{mprestriction ids="1,3"}

Net income attributable to common stockholders was $112.3 million, or 86 cents per share. That compares with $101.5 million, or 80 cents per share, for the same quarter a year earlier.

Same-store rental revenues totaled $259.5 million in the most recent quarter, compared with $253 million in the year-earlier quarter.

For the full year 2019, the company reported FFO of $667.9 million, or $4.84 per share. That compares with $623 million, or $4.62 per share, for the 2019.

Net income in 2019 totaled $420 million, or $3.24 per share. That compares with $415.3 million, or 80 cents per share, for 2018.

Same-store rental revenues totaled $1.03 billion in 2019, up from $998 million in 2018.

Extra Space Storage is a real estate investment trust (REIT) that owns and operates self-storage facilities.

“Extra Space delivered another solid year of performance despite significant new supply,” Joe Margolis, CEO, said in announcing the results. “Same-store revenue increased 3.5 percent, same-store NOI (net operating income) increased 2.9 percent, and core FFO per share increased 4.5 percent year-over-year, demonstrating the strength of our diversified portfolio.

“The fourth quarter marks the end of not only another good year, but an incredible decade of performance. During that time, Extra Space Storage provided the highest total 10-year return of any publicly traded REIT, and one of the highest total returns of any company in the S&P 500.”

Nu Skin

Nu Skin Enterprises Inc., based in Provo, reported net income of $40.1 million, or 72 cents per share, for the fourth quarter ended Dec. 31. That compares with a net loss of $17.8 million, or 32 cents per share, for the same quarter a year earlier.

The prior-year quarter included a $1.37 earnings-per-share impact for impairment and restructuring.

Revenue in the most recent quarter totaled $583.4 million, down from $683.3 million in the prior-year quarter.

For the full year 2019, the company reported net income of $173.6 million, or $3.10 per share, on revenues of $2.42 billion. That compares with $121.9 million, or $2.16 per share, on revenues of $2.68 billion in 2018.

Nu Skin develops and distributes a line of beauty and wellness solutions through a global network of salespeople in Asia, the Americas, Europe, Africa and the Pacific; and includes Rhyz, a strategic investment arm that includes a collection of sustainable manufacturing and technology innovation companies.

“In the fourth quarter, our business performed in line with expectations,” Ritch Wood, CEO, said in announcing the results. “Our customer base remained relatively strong; however, our sales leader count was down in the quarter, primarily driven by a decline in Mainland China. We held a global convention in October, which generated enthusiasm among our worldwide sales force. Additionally, we reported 24 percent growth in our manufacturing entities, an area where we see strong opportunities for continued expansion.”

Pluralsight

Pluralsight Inc., based in Farmington, reported a net loss of $32 million, or 31 cents per share, for the fourth quarter ended Dec. 31. That compares with a loss of $16.3 million, or 26 cents per share, for the same quarter a year earlier.

Revenue in the most recent quarter totaled $88.8 million, up from $67.3 million in the prior-year period.

For the full year 2019, the company reported a net loss of $112.7 million, or $1.19 per share, on revenue of $316.9 million. That compares with a loss of $173.4 million, or 72 cents per share, on revenue of $232 million in 2018.

Pluralsight is an enterprise technology skills platform company that offers on-demand access to a digital ecosystem of learning tools.

“Pluralsight’s fourth quarter capped off a strong second half to the year, further demonstrating that the operational improvements we implemented in the second half of 2019 are working and laying the foundation for durable, long-term B2B billings growth above 30 percent,” Aaron Skonnard, co-founder and CEO, said in announcing the results. “We began 2020 with nearly a million business users and 18,000 business customers and are on track to carry the momentum from the second half of 2019 through 2020.”

Huntsman

Huntsman, with main offices in Salt Lake City and Texas, reported net income of $308 million, or $1.34 per share, for the fourth quarter ended Dec. 31. That compares with a net loss of $315 million, or $1.43 per share, for the same quarter a year earlier.

Revenues in the most recent quarter totaled $1.66 billion, down from $1.82 billion in the prior-year quarter.

For the full year 2019, the company reported net income of $598 million, or $2.44 per share, on revenue of $6.8 billion. That compares with $650 million, or $1.39 per share, on revenue of 7.6 billion in 2018.

Huntsman manufactures and sells differentiated organic chemical products worldwide. The company operates in four segments: polyurethanes, performance products, advanced materials and textile effects.

“2019 was a memorable year for Huntsman, with several milestones achieved that significantly strengthened the company for years to come,” Peter R. Huntsman, chairman, president and CEO, said in announcing the results.

“The biggest milestone was the $2 billion divestiture of our chemical intermediates and surfactants businesses, which significantly reduces our upstream footprint. The proceeds from this sale have further fortified our investment-grade balance sheet and enhances our ability to focus on and grow our core downstream businesses. Additionally, we acquired the remaining 50 percent investment in our Maleic Anhydride joint venture from Sasol; we opened a new polyurethanes system house in Dubai; and in early December we announced the agreement to acquire Icynene-Lapolla, which will double the size of our existing high-growth spray foam business.”

Huntsman said “the economic headwinds remain as we enter the year, making earnings growth more of a challenge. However, with our strengthened balance sheet and strong downstream platforms for further growth, I see far more opportunities than challenges before us as we pursue multiple opportunities to create further shareholder value.”

Health Equity

Health Equity Inc., based in Draper, revised its previously provided outlook for the fiscal year ended Jan. 31, saying it expected net income between $39 million and $41 million, and revenue in the range of $530 million to $532 million.

HealthEquity is the nation’s largest health savings account (HSA) non-bank custodian.

“Our newly expanded footprint began to drive year-end sales results, including a remarkable record setting 724,000 new HSA openings and 24 additional network partners in fiscal 2020,” Jon Kessler, president and CEO, said. “HSAs topped 5.3 million and total accounts reached 12.8 million. We enter fiscal 2021 with our largest balance of HSA assets ever, as they grew by $3.4 billion in fiscal 2020. We are well-positioned to continue outpacing the market and providing remarkable purple service to our partners and members in fiscal 2021 and beyond.”{/mprestriction}