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Spectrum Brands (SPB) Misses Q1 EPS by 7c But Sales Beat, Offers Outlook

February 2, 2016 7:34 AM EST

Spectrum Brands (NYSE: SPB) reported Q1 EPS of $1.01, $0.07 worse than the analyst estimate of $1.08. Revenue for the quarter came in at $1.22 billion versus the consensus estimate of $1.2 billion.

Fiscal 2016 Outlook

Spectrum Brands expects fiscal 2016 net sales, as reported, to increase in the high-single digit range compared to fiscal 2015 reported net sales of $4.69 billion, including the positive impacts of the acquisitions of the European pet food business on December 31, 2014, Salix Animal Health on January 16, 2015 and Armored Auto Group on May 21, 2015, along with an anticipated negative impact from foreign exchange of approximately 200 to 220 basis points based on current spot rates.

Fiscal 2016 free cash flow is projected to be approximately $505-$515 million compared to $454 million in fiscal 2015. See Table 6 for a reconciliation to Forecasted GAAP Cash Flow from Operating Activities. Capital expenditures, which were $89.1 million in fiscal 2015, are expected to be in the range of $110 million to $120 million. These incremental investments include the impact of full-year expenditures supporting recent acquisitions, a major aerosol capacity expansion, and support of technology and innovation.

For earnings history and earnings-related data on Spectrum Brands (SPB) click here.



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