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NWL Newell Rubbermaid Q1 Earnings Beat Forecasts, Revenue in Line: Guides 2015 in Line

BY Midnight Trader - 7:51 AM ET 05/01/2015

http://stockcharts.com/h-sc/ui?s=NWL


Newell Rubbermaid (NWL) , a maker of consumer products, posted Q1 earnings that beat forecasts, with net sales coming in line with expectations and gave a 2015 outlook that met consensus views even as it warned the strong dollar was having a worse impact than initially forecast.

Normalized net income was $97.0 million, compared with $97.8 million in the prior year. On an earnings per share basis the company reported a gain to $0.36 versus $0.34 in the prior year, beating forecasts by two cents, according to Capital IQ.

Reported diluted earnings per share were $0.20, compared with $0.19 per diluted share in the prior year. Reported net income was $54.1 million, compared with $52.9 million in the prior year.

Net sales in the first quarter were $1.26 billion compared with $1.21 billion in the prior year and in line with forecasts.

For 2015, the company expects core sales to rise between 3.5% to 4.5% to between $5.93 billion and $5.99 billion and net sales to be up 3% to 4% to between $5.9 billion and $5.96 billion. The sales estimate is in line with forecasts.

Normalized EPS is seen in a range of $2.10 to $2.18, with analysts looking for $2.15.

The company now expects foreign exchange to have a negative impact of about $0.35 to $0.37 per diluted share on normalized EPS in 2015, $0.04 worse than the previous outlook provided.