Spectrum Brands (SPB) Misses Q1 EPS by 1c, Offers Guidance

Spectrum Brands (NYSE: SPB) reported Q1 EPS of $1.07, $0.01 worse than the analyst estimate of $1.08. Revenue for the quarter came in at $1.07 billion versus the consensus estimate of $1.12 billion.

Fiscal 2015 Outlook

Spectrum Brands expects fiscal 2015 net sales, as reported, to increase in the low to mid-single digit range compared to fiscal 2014, including the positive impact of the acquisitions of Tell Manufacturing on October 1, 2014, the European pet food business on December 31, 2014 and Salix Animal Health on January 16, 2015, along with an anticipated negative impact from foreign exchange of approximately 5 percent to 6 percent.

Fiscal 2015 free cash flow is projected to be approximately $400 million. Fiscal 2015 free cash flow is expected to be negatively impacted by foreign exchange, a modest increase in capital expenditures and the restructuring initiatives. Capital expenditures, which were $73 million in fiscal 2014, are expected to be in the range of $75 million to $85 million. These incremental investments are expected to increase both the Company’s margin structure and accelerate its organic sales growth rate in future years.

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

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