Hurricane Sandy in the filings…

October 31, 2012

Hurricane Sandy may have come and gone, leaving a path of destruction and millions (including me) without power. While the markets reopened this morning, EDGAR never closed for business, and since we’re still in the midst of earnings and 10-Q season, that’s meant that the filings load has been heavier than usual.

But in addition to all of those earnings-related filings, we’re starting to see a number of companies mention Hurricane Sandy by name in the filings. By our count, 21 companies have mentioned the storm by name as of noon today.

Roughly half those filings note that earnings or conference calls have been delayed due to the storm. In that group are Clorox (CLX), FMC Corp (FMC), MCG Capital (MCGC), Office Depot (ODP), Sterling Bancorp (STL), , and Taro Pharmaceutical (TARO). In this 8-K, Exelon Corp. (EXC) said that it was postponing its earnings “in order to focus” on the storm. Insurer CNO Group (CNO) was one of the few companies we found that filed an 8-K on Monday that it wasn’t postponing its conference call. There’s also several filings from insurance companies warning that any results do not include losses from Hurricane Sandy.

But the thing that really caught our attention is the growing number of companies that are now burying Hurricane Sandy in their “forward-looking statements” section, which is usually a laundry list chock full of all sorts of things. Among those doing that (at least so far) were Shoretel (SHOR). Expect to see many more companies start sneaking that in to this disclosure.

As for me, I’m feeling incredibly lucky that the tree that hit footnoted world headquarters on Monday night (that’s a picture of my house in the post) didn’t slice my house in half or injure anyone in my family. We’re currently holed up at a friend’s house, who’s graciously sheltering 2 families with young children, even though she’s not normally a kid person. I’m also thankful that a hard-working crew of DPW guys from the City of Peekskill were pretty quick to remove the tree before the damage got any worse.

Hope you’re safe and warm wherever you are!

Image source: Michelle Leder

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