MeadWestvaco Corp. (MWV) Tops Q2 EPS by 3c

MeadWestvaco Corp. (NYSE: MWV) reported Q2 EPS of $0.53, $0.03 better than the analyst estimate of $0.50. Revenue for the quarter came in at $1.47 billion versus the consensus estimate of $1.45 billion.

Third Quarter 2014 Outlook

For the third quarter of 2014, earnings excluding special items are expected to be above year-ago levels on a continuing operations basis. The company expects ongoing benefits from its commercial and operational excellence strategies, as well as continued contributions from its growth and productivity investments and cost savings initiatives.

The principal benefits that are expected to drive the company’s improvement in the third quarter are:

• Increases in packaging volumes, especially bleached paperboard and plastic dispensing solutions across major end-markets
• Ongoing value-based pricing initiatives across all packaging businesses
• Productivity improvements and continued positive operating leverage from increased mill and plant utilization rates
• Continuing cost reduction efforts, including growing benefits from the company’s margin improvement program

These principal benefits will be partially offset by:

• Continued soft economic conditions in Brazil
• Continued demand challenges in frozen food markets
• Higher costs for freight and wood fiber

For earnings history and earnings-related data on MeadWestvaco Corp. (MWV) click here.

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