Valspar Earnings Rise on Higher Prices

Valspar reported fiscal first-quarter net income of $55.8 million, or 58 cts/share, up 67% from the year-ago period. Adjusted earnings of 62 cts/share beat analysts’ consensus of 48 cts/share, as reported by Bloomberg. The company expects full-year 2012 earnings to total $2.92-$3.12/share, in line with analysts’ consensus of $3.01/share. Net sales in the coatings segment rose 8%, to $494.6 million, and segment Ebit rose 45%, to $73.9 million. Segment volumes fell, but margins rose due to restructuring savings and double-digit price increases, leading...

This information is only available to Chemical Week subscribers.

Forgot your user ID or password?
Click here to have it sent to you.

Email Address First Name Last Name

Not an IHS Chemical Week 24/7 member yet? Here's why you should be: Searchable online archive access of the last 2 years of Chemical Week. Print or digital magazine subscription Price and market change alerts Economic data and statistics Buyers' Guides Webcasts | whitepapers