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Thursday, September 05, 2019, 11 am EDT | 4:00 pm BST  |  5:00 pm CET


CFRA hosted a webinar on September 5, where we provided attendees with the exclusive opportunity to learn more about CFRA’s research methodologies regarding non-GAAP metrics.


Led by Emily Grant Turner, CFRA senior analyst, we discussed non-GAAP metrics:

  • CFRA's view of common non-GAAP adjustments
    • Restructuring charges
    • Stock-based compensation expense
    • Pension adjustments
    • Purchase accounting
    • Adjustments to EBITDA
  • Examples of how companies can distort their financial results through manipulation of discretionary metrics
    • (CRM)
    • Broadcom (AVGO)
    • Oshkosh Corporation (OSK)
    • T-Mobile Us Inc (TMUS)
    • Pandora A/S (PNDORA-DK)
    • Domino’s Pizza Enterprises (DMP-AU)
    • Williams-Sonoma (WSM)
  • Techniques for modeling and valuation when using certain non-GAAP adjustments                                   

Presented by:

Emily Grant Turner, Senior Analyst, CFRA


Moderated by:

Giles Flower, Head of Global Institutional Sales, CFRA