If this week looks anything like last week, IPO investors will be in for a happy ride in the next few days.
Last week provided us with some optimism on the IPO front, as five of the six companies that came public finished last week in the black, with three posting double-digit returns:
|* Return calculated from offering price|
This week, there are six deals on the calendar, with two — SeaWorld (NYSE:SEAS) and Blackhawk (NASDAQ:HAWK) — looking especially appealing and likely to garner the most investor interest. Here’s a look at all of the upcoming offerings for the next few days:
SeaWorld was founded more than 50 years ago and now is the top name in aquatic theme parks. It now operates 11 parks that feature roughly 67,000 marine and terrestrial animals, including 29 killer whales. SeaWorld also has been creating new park concepts, such as its Orlando water park Aquatica, which has a South Seas setting that includes high-energy rides and white-sand beaches.
Last year, revenues for SeaWorld increased by 7% to $1.42 billion, while profits nearly quadrupled to $77.4 million.
The company expects to issue 20 million shares Friday at a range of $24 to $27. Lead underwriters include Goldman Sachs (NYSE:GS), JPMorgan (NYSE:JPM), Citigroup (NYSE:C), BofA Merrill Lynch (NYSE:BAC), Barclays (NYSE:BCS) and Wells Fargo (NYSE:WFC).
The Safeway (NYSE:SWY) spinoff operates a prepaid payment network, processing gift and debit cards across 100,000 distribution locations, including Ahold, Giant Eagle, Publix, Lowe’s (NYSE:LOW) and Kohl’s (NYSE:KSS). Some of its customers include Amazon (NASDAQ:AMZN), Apple (NASDAQ:AAPL) iTunes, Starbucks (NASDAQ:SBUX) and Macy’s (NYSE:M).
While Blackhawk does operate in 18 countries, its international business only accounts for 15% of total sales. Though the company is getting more aggressive on this front, including the start of sales in China this year.
From 2008 to 2012, Blackhawk’s sales surged 165% to $959 million, and adjusted net income soared 121% to $50.3 million.
The company plans to issue 10 million shares Friday at a range of $20 to $22. Lead underwriters include Goldman Sachs, BofA Merrill Lynch, Citi and Deutsche Bank (NYSE:DB)
Fairway (NASDAQ:FWM) is an operator of 12 grocery stores in the greater New York City metropolitan area. Each location has a wide selection of premium natural and organic foods, though the prices are fairly reasonable compared to operators such as Whole Foods (NASDAQ:WFM).
From 2010 to 2012, net sales rose by 38% to $554.9 million, and EBITDA climbed by 49.8% to $35.8 million. With the IPO, Fairway plans to expand into new markets, such as New England and the District of Columbia.
Through an IPO, financier Hannon Armstrong (NYSE:HASI) plans to change its corporate structure to a real estate investment trust. This should help lower the cost of capital because of the lucrative tax advantages.
Since 2000, Hannon has originated $3.9 billion in financing of over 450 projects, which have a focus on cleantech approaches. Customers include Chevron (NYSE:CVX), Honeywell (NYSE:HON) and United Technologies (NYSE:UTX).
Revenues roughly tripled year-over-year to $21.2 million in 2012, and the company flipped from a $5 million loss in 2011 to a $9.3 million profit.
The company plans to issue 13.3 million shares Thursday at a range of $14 to $16. Lead underwriters include BofA Merrill Lynch, UBS (NYSE:UBS) and Wells Fargo.
Intelsat (NYSE:I) is the world’s largest provider of satellite services to businesses. This involves the operation of a fleet of over 50 geosynchronous satellites that cover more than 99% of the world’s populated regions. The network has a variety of uses, including media transmissions, navigation of unmanned aerial vehicles and the handling of telecommunications.
However, the company’s growth has been muted. 2012 revenues came to $2.61 billion, which was only fractionally improved year-over-year. But the margins are juicy, resulting in $1.186 billion in adjusted EBITDA.
Intelsat also should have no worries about future business, as the company’s backlog currently is a whopping $10.7 billion.
The company plans to issue 21.7 million shares Thursday at a range of $21 to $25. Lead underwriters include Goldman Sachs, JPMorgan, Morgan Stanley (NYSE:MS) and BofA Merrill Lynch.
Taminco (NYSE:TAM) produces alkylamines and alkylamine derivatives, which are used in products for agriculture, water treatment, animal nutrition and personal/home care. Essentially, these chemical elements help neutralize acidity and deal with contaminants.
However, Taminco’s business has been somewhat volatile, and actually dropped off in 2012. Year-over-year, revenues fell from $1.12 billion to $1.12 billion, and net income fell off a cliff, declining 90% to $3 million.
The company plans to issue 15.8 million shares Thursday at a range of $18 to $20. Lead underwriters include Citi, Goldman Sachs, Credit Suisse and JPMorgan.
Tom Taulli runs the InvestorPlace blog IPO Playbook. He is also the author of High-Profit IPO Strategies, All About Commodities, and All About Short Selling. Follow him on Twitter at @ttaulli. As of this writing, he did not hold a position in any of the aforementioned securities.