March 13, 2017 / 10:53 AM / 5 months ago

BRIEF-NCR announces Blackstone agreement, updates guidance

March 13 (Reuters) - NCR Corp

* NCR announces Blackstone agreement, updates guidance and announces additional share repurchase authorization

* Increasing full year non-GAAP EPS guidance by $0.02 due to accretive nature of transaction to $3.27 to $3.37

* NCR Corp - plans to increase its planned 2017 share repurchases to approximately $350 million from previous $300 million

* NCR Corp - Blackstone is granted an early release from its lockup to sell a portion of its holdings to allow it to recoup its investment

* Full year GAAP EPS is expected to be lower by approximately $0.10 and Q1 GAAP EPS is expected to be lower by approximately $0.50

* NCR Corp - repurchased approximately 4.4 million shares of its common stock for approximately $204 million thus far in 2017

* NCR Corp - "Blackstone is extending lockup on our remaining 51% stake by another six months to December 1, 2017"

* NCR Corp - additionally, on March 12, 2017, co's board of directors authorized a new $300 million share repurchase program to succeed its 2016 program

* NCR Corp - on March 12, 2017, company's board of directors authorized a new $300 million share repurchase program to succeed its 2016 program

* NCR Corp - agreement with Blackstone extends lockup period on remainder of the investment

* FY2017 earnings per share view $3.30 -- Thomson Reuters I/B/E/S

* NCR Corp - have agreed to provide Blackstone with an early release to sell 49% of its holdings, or approximately 14.4 million shares on an as converted basis.

* NCR Corp - Blackstone will convert 90,000 of their convertible preferred shares into approximately 3 million shares of common stock

* NCR Corp - Q1 non-GAAP EPS guidance reaffirmed

* Q1 earnings per share view $0.46 -- Thomson Reuters I/B/E/S Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below