Libbey (LBY) Misses Q3 EPS by 5c; Reaffirms
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
Libbey (NYSE: LBY) reported Q3 EPS of $0.13, $0.05 worse than the analyst estimate of $0.18. Revenue for the quarter came in at $196.9 million versus the consensus estimate of $198.7 million.
"Third quarter results were seasonably lower, consistent with the expectations we provided last quarter, as challenging market conditions persisted across our various sales channels and end-markets. Despite continued softening in the foodservice channel, we were able to deliver our 14th consecutive quarter of foodservice unit volume growth even with a more pronounced decline in restaurant traffic during the quarter," said William A. Foley, chairman and chief executive officer of Libbey Inc. "We are continuing to implement proactive improvements to our business in order to position the Company for long-term growth and performance. We are also beginning to see positive impacts from recent new product and sales initiatives."
Foley continued, "We reconfirm our full-year 2016 guidance of net sales down 1 to 2 percent year over year on a reported basis and Adjusted EBITDA margin of approximately 14 percent."
For earnings history and earnings-related data on Libbey (LBY) click here.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Sonoco (SON) Affirms FY16 Outlook; Guides FY17 EPS Below Views
- Ulta Salon (ULTA) Tops Q3 EPS by 3c, Comps Up 16%; Offers Guidance
- Workday (WDAY) Tops Q3 EPS by 7c
Create E-mail Alert Related CategoriesEarnings, Guidance, Management Comments
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!