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People & Business :: Companies
Valspar Earnings Rise on Higher Prices
9:35 AM MST | February 15, 2012 | Vincent Valk
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...
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