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Leucadia National Profits up 39%

November 08, 2005 | About:
insider

Leucadia National (LUK), the company of our guru Ian Cumming, is making more money. In the third quarter its diluted earnings per share was $0.93,up 39% from the third quarter of 2004, $0.67.  

The revenue of Leucadia for the third quarter was up from $ 633 million of 2004 to $836 million. Its recent acquisitions of ATX communications and Idaho Timber Corporation contributed to $40 million and $90 million in revenue, respectively. Excluding the acquisitions, Leucadia National's earning gained 20% compared with the third quarter of the last year.  

As of Sept. 30, 2005, Leucadia had $1.7 billion in cash, its market cap is $4.8 billion. Leucadia has sold all of its holdings of White Mountains Insurance Group (WTM), according to its third quarter 10-Q report. White Mountains Insurance Group was Leucadia National's largest equity holding during the second quarter.


Rating: 3.4/5 (12 votes)

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