Valspar Earnings: Everything You Must Know Now
The Valspar Corporation (NYSE:VAL) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
The Valspar Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 8.33% to $0.91 in the quarter versus EPS of $0.84 in the year-earlier quarter.
Revenue: Decreased 0.13% to $1.03 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: The Valspar Corporation reported adjusted EPS income of $0.91 per share. By that measure, the company beat the mean analyst estimate of $0.90. It missed the average revenue estimate of $1.05 billion.
Quoting Management: “Strong volume growth in the quarter was driven by new business wins. The seven percent growth in total volumes, inclusive of Ace volumes, was a significant accomplishment especially given the uneven demand this year in several markets,” said Gary E. Hendrickson, chairman and chief executive officer. “We saw improving momentum in the U.S., driven by solid performance in our consumer paints, packaging, wood and coil product lines. The strengthening U.S. housing market, coupled with our continued new business initiatives, should provide further improvements in the second half of the year. We are affirming our full year adjusted EPS guidance of $3.60 to $3.80.”
Key Stats (on next page)…