Calcbench is a company that focuses on financial data analysis in the financial services industry. The company offers a platform that allows users to access and analyze financial statements and earnings press releases, compare financial data across peer groups, and search for specific disclosure sections or topics. Calcbench primarily serves the financial services industry, with customers including analysts, auditors, academics, and corporate finance professionals. It is based in New York, New York.
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Access as-filed 10-Ks, 10-Qs, Earnings Press Releases
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Latest Calcbench News
Nov 14, 2023
Markets today: stocks edge up as traders bet on slowing inflation YouTube To Require Disclosure When Videos Include Generative AI Home Depot Narrows Guidance for Profit, Revenue Decline World Set to Warm With Current Climate Policies, UN Warns US Companies Opting to Refinance 2024 Debt Face Profit Hit as Higher Rates Bite Israel Gas Flows to Egypt Set to Return to Pre-War Level Argentina’s Election Isn’t Just High Stakes for Argentina — But for China, Too Glencore to Buy 77% of Teck Coal Business for $6.93 Billion German Investor Expectations Improve Again Ghana’s Inflation Rate Falls, Easing Rate Hike Pressure China Mulls $137 Billion of New Funding to Boost Housing Market ‘Great Quarter, Guys’ Fades for CEOs on Tougher Earnings Calls EVs Are the Only Bright Spot in Climate Fight, Study Shows Billionaire Money Manager Terry Smith Sees Worst Payday in Seven Years Why Wall Street Sells So Many Car Loans That Buyers Can’t Pay Off: Big Take Podcast Nowhere Is Safe From Worsening Climate Change, New US Report Warns Five Takeaways From a Sweeping Report on Climate Change in the US Thailand Pitches $28 Billion Malacca Strait Bypass Project to US South Africa’s Employment Rises Above Pre-Covid Levels Kids should learn financial literacy in school over 'parallelograms and rhombuses': author Ottawa extends deadline for Underused Housing Tax Financial advice from AI may be educational but not holistic, experts say Women less likely than men to request a raise, negotiate salary: surveys Timing, patience key to nabbing affordable concert, sports resale tickets: fans Many Canadians 'uncomfortably close to broke': MNP It’s never too early to think about tax-loss selling: Dale Jackson Many Canadians stuck in 'chaotic whirlwind of personal finance stress': Edward Jones Money manager of $205M in assets explains how meditation informs his decisions Canadian tech workers make 46% less than U.S. counterparts: TMU study HELOCs can play a vital role in your finance toolkit: Dale Jackson Financial planning for raising kids: expert says cash flow is key HELOCs can play a vital role in your finance toolkit Financial stress levels climb as Canadians use debt to pay for essentials Looking for flights on a budget? Consider price freezing and other newer trends Employers set aside less for 2024 pay increases: survey Financial uncertainty new normal for many Canadians, RBC survey shows Bank of Canada rate pause opens sweet spot for savers: Dale Jackson 3 silent portfolio killers that could drain your retirement savings Home Depot Narrows Guidance for Profit, Revenue Decline Chicago Business Fears Death By a Thousand Cuts Over Expanded Paid Leave China Mulls $137 Billion of New Funding to Boost Housing Market Investors Dump Cash to Chase Bonds, BofA Survey Shows Struggling Landlord SBB Wins Rare Analyst Upgrade Iron Ore Drops as China’s Home Sales Fall and Construction Eases Australia Signals Infrastructure Shakeup as Inflation Persists Trump’s Real Estate ‘Artistry’ Praised by Son at NY Fraud Trial Vanke Bonds Volatility Underscores China Property Debt Contagion Hurdles remain for construction companies despite tax breaks: RioCan REIT founder Fed Supervisors Are Scrutinizing Banks’ Interest-Rate Risks, Barr Says Dye & Durham Taps Goldman, Canaccord for Possible Payments Unit Sale Average Canadian rent price hits new high for sixth consecutive month: report Real Estate Investor Faces SEC Inquiry on WeWork Offer Germany Warns More Commercial Real Estate Pain Ahead Deutsche Bank’s Courtship Is Heart of Trump NY Trial Defense Home Depot and Lowe’s Face Slump From Higher Rates and Housing Prices China’s Consumption Recovery Is Losing Momentum, Data Show China’s Credit Growth Weaker Than Expected in October Fired Morgan Stanley Banker Sues in UK to Win Her Job Back YouTube To Require Disclosure When Videos Include Generative AI London Boroughs Buy £300 Million of Property to Move Homeless Home Depot Narrows Guidance for Profit, Revenue Decline UK Recommends Chickenpox Vaccine for Babies and Children World Set to Warm With Current Climate Policies, UN Warns Bankers Brace for Smaller Bonuses With No Relief Seen Next Year Chicago Business Fears Death By a Thousand Cuts Over Expanded Paid Leave US Companies Opting to Refinance 2024 Debt Face Profit Hit as Higher Rates Bite Roger Federer-Backed Shoemaker On Sees Sales Surge EU, US Scramble to Resolve JetBlue-Schiphol Spat Israel Gas Flows to Egypt Set to Return to Pre-War Level Argentina’s Election Isn’t Just High Stakes for Argentina — But for China, Too Biden, Xi to Announce Deal for China to Crack Down on Fentanyl Glencore to Buy 77% of Teck Coal Business for $6.93 Billion China Mulls $137 Billion of New Funding to Boost Housing Market ‘Great Quarter, Guys’ Fades for CEOs on Tougher Earnings Calls Winston Maker Imperial Brands Forecasts Weak First-Half Growth EVs Are the Only Bright Spot in Climate Fight, Study Shows World Set to Warm With Current Climate Policies, UN Warns Israel Gas Flows to Egypt Set to Return to Pre-War Level Glencore to Buy 77% of Teck Coal Business for $6.93 Billion EVs Are the Only Bright Spot in Climate Fight, Study Shows Nowhere Is Safe From Worsening Climate Change, New US Report Warns Five Takeaways From a Sweeping Report on Climate Change in the US Thailand Pitches $28 Billion Malacca Strait Bypass Project to US Glencore Finally Does a Deal With Teck: The London Rush Zimbabwe Platinum Miners Ask Government to Defer Export Tax China’s Booming Copper Output Leaves Less Space For Codelco Orsted CFO, COO Step Down Weeks After $4 Billion Impairment Israel Latest: Gaza Hospitals in Focus as Biden Urges Restraint Russia Oil-Export Revenues Drop on Sanctions, Cheaper Crude India Weighs Five-Year Tax Cuts on EV Imports to Woo Tesla Japan’s Green Switch Falls Short of Global Goals, Climate Researchers Say Europe Gas Prices Fall on on Strong Supply EU Weighs Extending Steel-Trade Truce With US to Avoid Tariffs India’s Inflation Slows Further, Giving RBI More Breathing Room Iceland Plays Down Aviation Threat From Pending Eruption The Daily Chase: First Quantum reducing operations amid Panama protests It's boom times for startups trying to electrify aviation 'I was parked luggage': Accessibility advocates speak out about demeaning air travel The Week Ahead: Metro, Loblaw to report earnings Unifor auto talks: a quiet end to one of the year's biggest labour clashes Tabatha Bull on the need for more Indigenous women in energy Central banks 'not sure' where interest rates will ultimately land: Desjardins economist The Daily Chase: Earnings from AtkinsRealis, Sleep Country, Saputo 'We had an amazing summer': Cineplex CEO on recent box office success New bill would ban replacement workers in federal workplaces during strikes, lockouts Powell reinforces U.S. Fed's cautious approach toward further interest rate hikes Pay transparency: Provinces split on enforcement of new rules Crabby business: N.L. fisheries worker charged with accepting 'pans of crab' as bribe Canadians should plan for higher rates in the long run, BoC’s Rogers says Cost of unpaid caregiving higher than essentials for some Canadians: survey Holiday job postings down from last year amid slowing economy: Indeed Newfoundland and Labrador to launch basic income program for residents aged 60-64 Corporate world should be more accepting of immigrants: Wes Hall BoC's governing council split on whether interest rates need to rise further Biden, Xi to Announce Deal for China to Crack Down on Fentanyl US Grants Chinese Journalists Hundreds of Visas to Cover APEC US Supreme Court’s Ethics Code Borrows From Other Judges — But Not Always Nowhere Is Safe From Worsening Climate Change, New US Report Warns Thailand Pitches $28 Billion Malacca Strait Bypass Project to US Next Year Will Be ‘Decisive’ in War, Ukrainian Official Says South Africa’s Employment Rises Above Pre-Covid Levels Sunak Opens Rift With Tory Right by Reviving Centrist Cameron PE Firms Get Trapped in China After $1.5 Trillion Betting Spree Foxconn Founder Gou Deemed Eligible to Run in Taiwan Election Israel Latest: Gaza Hospitals in Focus as Biden Urges Restraint Israel Minister Says 2024 Budget to Focus on War and Then Growth EU’s Ammunition Goal for Kyiv Never Realistic, Germany Says Nigeria Warns Labor Unions Against ‘Illegal, Immoral’ Strike EU Weighs Extending Steel-Trade Truce With US to Avoid Tariffs Cameron’s China Ties Draw Fresh Scrutiny With ‘Golden Era’ Over Spain’s Main Business Group Slams Premier Sanchez’s Catalan Amnesty Deal Thai PM Denies Chinese Police Patrol Plan After Public Outcry Top Philippine Court Affirms Dismissal of Marcos Wealth Case ‘Great Quarter, Guys’ Fades for CEOs on Tougher Earnings Calls Ethiopia Fails to Attract Any Bids for Third Telecom License Wise Talks With Regulators About Passing Higher Rates to Users iPhone Maker Hon Hai’s Profit Beats in Sign of Resilient Demand Delivery Hero Head Says Asia Business Holding Firm’s Growth Back Foxconn Founder Gou Deemed Eligible to Run in Taiwan Election Israel Latest: Gaza Hospitals in Focus as Biden Urges Restraint Musk, Citi’s Fraser Among the CEOs Wooing China’s Xi at APEC Vodafone Beats Second Quarter Sales Growth, Reiterates Outlook Cameron’s China Ties Draw Fresh Scrutiny With ‘Golden Era’ Over Huawei and Xiaomi Lead China Phone Market Double-Digit Rebound Spain’s Main Business Group Slams Premier Sanchez’s Catalan Amnesty Deal Norway Pitches For Closer Ties With Korea EV Battery Companies DP World Chips Away at Freight Backlog as Australia Strikes Bite Yellen Says China’s Support for Industries Poses Global ‘Risk’ Europe Warns Methane Polluters as Bloc Pushes to Slash Emissions Israel Latest: US Strikes Iran-Linked Targets in Eastern Syria BTIG Accuses Rival Broker StoneX of Stealing Trading Technology South Korea’s Memory-Chip Exports Return to Growth The U.S. Fed is failing in four ways: Mohamed A. El-Erian Apple, JPMorgan turn to pay now grow later Remote Working Boom Is Huge for College Towns Like Knoxville Walmart flashes a warning sign to the entire consumer economy: Andrea Felsted Millennials are finally spending like grown-ups Dismal U.S. GDP report raises the odds of recession this year: Gary Shilling Musk is wrong for Twitter even if deal math works out Chocolate bunnies can teach us to save our food supply The Fed has made a U.S. recession inevitable America's oil reserve weapon risks misfiring Four-day workweeks can burn you out U.S. Fed expects a soft landing. Don't count on it Markets are pushing Fed into developing-economy territory Commodity traders go from bonanza to bailout plea Putin's war shows West must clean up dirty money Salary transparency is good for everyone Microsoft's US$69B Activision deal could be a blunder What if the oil market bulls are wrong and this lonely bear is right? Canada's trucker protest may spread from Ottawa to U.S. Emerging-Market Stocks Halt Declines as China Sentiment Improves Mexico ETF Sees Best Week in 5 Years on Resiliant Economy Bets ETF to Cover $8 Billion in Short Options and the Market Knows It One Year After FTX Imploded, Here’s How Crypto Is Changing Bitcoin ETF Exuberance Drives Four-Week ‘Nothing for Sale’ Rally UBS Allows Wealthy Clients to Trade Crypto ETFs in Hong Kong BlackRock Filing Spurs Ether Rally as ETF Bets Fire Up Crypto Bitcoin Trades Past $36,000 on Possible ETF Investment Approval Novogratz’s Galaxy Says Quarterly Loss Widened Ahead of Bitcoin ETF Bid ESG Veteran Says Purge Has Further to Go With ETFs Next in Line Asia Stocks to Open Mixed After S&P Extends Rally: Markets Wrap Asian Shares to Dip After Wall Street Rally Fades: Markets Wrap Ex-Cantor Executives Start Lending Platform for Anticipated Spot Bitcoin ETFs BlackRock’s $100 Billion Model Makers Are Betting on Megacaps Cathie Wood Sells Top Bet Roku as Stock Surges on Upbeat Outlook Asia Stocks Set for Bullish Tailwind from US Rally: Markets Wrap Record-Setting Push Into Both Ends of Yield Curve Set to Pay Off Bulls Are Back in Emerging Markets as Growth Stocks Outperform Bitcoin Has More Than Doubled This Year In Unforeseen Resurgence World Series breakthrough for teams’ business Shane Pinto suspension the result of a regulated gambling market that works, say industry insiders Canadian Football League fanatics fuel financials What’s next for private equity investment in professional sports? Canada’s Davis Cup team finding love Impact of Jersey Ads on the NHL Promising Puck Drop for PWHL Betting on Women's Sports is on the Rise NHL expands market to Oz ‘Tis the Season for Selling Sports Books Television deals, ratings generate record-setting NFL revenue Playing for global basketball and sponsorship glory Awareness still at disadvantage in decades-long battle for tennis pay equity FanDuel, Rivalry deliver something new for betting customers Corporations considering Canadian cricket Nina Trentmann, Bloomberg News (Bloomberg) -- Some of the largest US companies face billions of dollars in additional interest costs and hits to their profit if they refinance their 2024 maturities at current rates, with a third of them lacking the cash to repay upcoming debt. Non-financial companies in the S&P 500 have a combined $107.7 billion in debt coming due next year, with an average interest rate of 2.8%, according to a Calcbench analysis seen first by Bloomberg News. Refinancing at 5.44% – the rate of the one-year Treasury bill in early November – would add another $3.09 billion in collective interest expense, the financial research firm said in its analysis. Using companies’ trailing twelve-month earnings per share ending with the second quarter as a baseline, that higher interest expense would reduce average EPS at 57 businesses with maturing debt in 2024 by $0.11, or 2.92%, Calcbench said. “Depending on the nature of the company and the strength of its balance sheet, this is significant,” said Pranav Ghai, the founder and chief executive of Calcbench. Companies are impacted by higher financing costs differently, with about two thirds of businesses holding enough cash to pay down their 2024 debt. The rest — or 19 companies out of the 57 — didn’t hold enough cash by the end of the second quarter to extinguish all debt coming due next year, and those numbers have further updated in the most recent quarter. “We found numerous companies where higher interest expense was greater than available cash the companies had on hand, which implies that those companies must refinance or sell off assets to raise more cash,” Ghai said. “They can’t otherwise pay off the debt.” US firms have been rushing to the market as Treasury rates declined, with highly rated companies raising $1.115 trillion in new debt through Nov. 13, up 1% compared with the prior-year period. Last week alone, investment-grade issuers sold $43 billion in new bonds, with forecasts calling for $100 billion in gross new issuance this month. The cut-off point for Calcbench’s analysis was Nov. 6, with third-quarter results for several dozen S&P 500 companies still outstanding. Refinancing Needs One of the companies that holds less cash than its 2024 maturities, according to Calcbench, is pipeline operator Kinder Morgan Inc. The company has $1.9 billion in debt coming due next year and reported $497 million in cash at the end of the second quarter. Cash holdings declined to $80 million in the third quarter. The company’s 2024 maturities are a small portion of its overall debt, according to its Chief Financial Officer David Michels. “We intentionally spread out our maturity profile in order to minimize annual refinancing impacts,” he said. “Additionally, at the end of the third quarter, we had over $3.5 billion of short-term liquidity under our credit facilities, which gives us flexibility to remain patient when refinancing our debt.” Meanwhile, cigarette maker Philip Morris International Inc. is anticipating higher financing costs for next year, said CFO Emmanuel Babeau. While the company wasn’t included in Calcbench’s analysis, it has several maturities in 2024, including $2.65 billion in dollar-denominated debt, according to data compiled by Bloomberg. “We go through a number of refinancings, some of them next year,” Babeau said. US companies across industries are grappling with whether to refinance their upcoming maturities at the risk of hurting profit or wait until interest rates are lower. The Federal Reserve left interest rates unchanged in early November, and Wall Street banks are divided on how aggressive they think the US central bank will be in cutting rates next year. Costco Wholesale Corp. and biotechnology firm Boston Scientific Corp. are among those that are expected to see a hit to basic EPS if they refinance at current rates, according to Calcbench estimates based on trailing 12-month earnings at the end of the second quarter. Boston Scientific — with $500 million coming due next year and over $1 billion in early 2025 — will likely see a hit to EPS of 0.83% in 2024, followed by a hefty 4.14% dent to EPS in 2025, Calcbench said. A representative for the Marlborough, Massachusetts-based company said the impact of higher financing costs on its EPS isn’t clear-cut. “There are many approaches we can take when looking at our capital structure,” a spokesperson said. Costco is considering repaying a $1 billion bond maturing in 2024 with cash, according to CFO Richard Galanti. Refinancing at the current rates doesn’t make sense, he told Bloomberg News. Read more: Refinancing at Current Rates Doesn’t Make Sense, Costco CFO Says --With assistance from Tom Contiliano. ©2023 Bloomberg L.P.
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Calcbench's headquarters is located at 750 3rd Ave, New York.
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Calcbench's latest funding round is Unattributed.
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Calcbench raised a total of $500K.
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Customers of Calcbench include SEC.
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