Cohen & Steers, Inc. Form 8-K Summary
Business Context and Reporting Period
Cohen & Steers, Inc. filed this Current Report on Form 8-K on October 15, 2014. The filing announces the Company's financial results for the quarter ended September 30, 2014, via an attached press release (Exhibit 99.1).
Key Financial Metrics
The filing text itself does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. These figures are contained within the attached press release (Exhibit 99.1), which is not included in the provided source text. The filing notes that the press release contains both GAAP results and certain non-GAAP financial measures.
Material Changes and Non-GAAP Adjustments
The Company discloses specific adjustments to non-GAAP measures to enhance comparability:
- Non-operating income (loss): Adjusted for the three months ended September 30, 2014, and June 30, 2014, to exclude net income (loss) attributable to redeemable noncontrolling interest resulting from consolidation.
- Net income per share: Adjusted for the nine months ended September 30, 2013, to exclude the effect of previously disclosed expenses primarily related to the offering of Cohen & Steers MLP Income and Energy Opportunity Fund, Inc.
Guidance, Outlook, and Risks
The filing does not contain specific forward-looking guidance, management commentary on future outlook, or a detailed list of risks within the text provided. It states that the non-GAAP information is supplemental and should not be considered a substitute for GAAP financial information. A reconciliation of non-GAAP measures to GAAP measures is included in the attached press release.
Investor Verification Checklist
- Review Exhibit 99.1 (Press Release) for specific GAAP revenue, net income, and earnings per share figures for the quarter ended September 30, 2014.
- Verify the reconciliation tables in the press release to understand the magnitude of the non-GAAP adjustments regarding redeemable noncontrolling interest and offering expenses.
- Confirm the impact of the Cohen & Steers MLP Income and Energy Opportunity Fund, Inc. offering expenses on the comparative 2013 period.