IHS Chemical Week

Markets :: Specialty Chemicals :: Paints and Coatings

Valspar earnings beat estimates on rising sales

9:59 AM MST | November 19, 2013 | Vincent Valk

Valspar today reported fiscal fourth-quarter earnings of $63.5 million, down 14% year-on-year (YOY), on sales up 8%, to $1.1 billion. Excluding restructuring charges, adjusted earnings totaled $86 million, or 97 cts/share, up 7.5% and beating analysts’ consensus estimate of 92 cts/share, as reported by Thomson Reuters (New York). Valspar’s fiscal fourth-quarter ended on 25 October. “The fourth quarter was a good finish to the year, as growth in both sales and operating income improved from previous quarters. Sales growth was led by strong...

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