Newell Rubbermaid Inc. NWL reported better-than-expected fourth-quarter earnings. However, the company cut its full-year earnings forecast.
Newell Rubbermaid now projects FY15 profit of $2.10 to $2.18 per share, versus its earlier outlook of $2.16 to $2.22 per share.
The Atlanta, Georgia-based company posted a quarterly profit of $52 million, or $0.19 per share, versus a year-ago profit of $117 million, or $0.41 per share. Excluding special items, the company's earnings gained to $0.49 per share from $0.46 per share.
Its sales climbed to $1.53 billion from $1.47 billion. However, analysts were expecting earnings of $0.48 per share on revenue of $1.52 billion.
The company's sales at writing segment came in flat at $418 million, while sales at the baby-and-parenting segment slipped 0.2% to $209 million.
Newell Rubbermaid's home solutions sales surged 11% to $459 million, while sales at its tool segment gained 3% to $227 million. Commercial-products segment's sales surged 5% to $213 million in the period.
Operating cash flow slipped to $290.8 million from $304.2 million.
"We are pleased to have finished the year with a strong set of fourth quarter results. Core sales grew 3.3 percent, or nearly 4 percent when adjusted for timing shifts related to SAP implementation and our third quarter distribution center transition," said Michael Polk, President and Chief Executive Officer.
Newell Rubbermaid shares rose 0.82% to $38.28 in pre-market trading.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in