A. Schulman Details Long-Term Growth Goals at Investor Day
A. Schulman, Inc. (Nasdaq: SHLM) today highlighted several new financial targets for the fiscal 2014-2018 period, as disclosed in presentations made by management at its 2014 Investor Day in New York on April 10, 2014 and filed with Schulman's Form 8-K dated April 10, 2014.
"Our long-term targets are based largely on our expectations for continued success with our organic initiatives and acquisition strategy, combined with our financial strength and the growth potential of our global markets," said Joseph M. Gingo, Chairman, President and Chief Executive Officer. "We have fueled organic growth by introducing new products, expanding into new markets and improving our product mix. We have also completed eight acquisitions and formed three joint ventures within the past four years that have greatly strengthened our global position in key markets. And we have the global processes in place to achieve further cost savings along with our growth. As we continue our aggressive acquisition strategy and marketing initiatives, we are confident in our ability to achieve the growth targets we have set."
As announced at the Investor Day, on a non-GAAP basis, targets for the fiscal 2014-2018 period include:
o Sales: 10-11% compound annual growth (CAGR) to $3.6-3.7 billion for fiscal 2018 o Adjusted EBITDA: 17-18% CAGR to $270-284 million o Adjusted earnings per share: 19-20% CAGR to $4.50-4.75 o Return on invested capital: 5.5-6.5% CAGR to 15-16% o Dividend payout ratio target: 30% of adjusted net income
Slides used during the Investor Day presentations have also been posted in the Investors section of the Company's website at www.aschulman.com.
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