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Omnova updates fourth-quarter guidance

11:16 AM MST | November 15, 2013 | Vincent Valk

Omnova Solutions today said it expects fourth-quarter adjusted earnings to total 16-18 cts/share, which would represent a major year-on-year (YOY) increase from the year-ago quarter, when earnings totaled 1 ct/share. The current guidance is below third-quarter 2013 earnings of 19 cts/share, and slightly lower than previously forecast. Several issues are expected to impact Omnova’s earnings in the quarter, however. These include a typhoon-related flood at a coated fabrics plant in China, a raw material supply disruption that caused force majeure to be...

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