Omnova Solutions (OMN) Reports Q3 EPS of $0.13, Offers Outlook

Omnova Solutions (NYSE: OMN) reported Q3 EPS of $0.13, versus $0.05 reported last year. Revenue for the quarter came in at $210.9 million, versus $252.1 million reported last year.

Outlook

During the fourth quarter, the Company expects to incur charges of approximately $4.0 million to $5.0 million, of which $1.0 million to $2.0 million is cash related to the manufacturing realignment and SG&A restructuring announced in June 2015, which are expected to deliver $14.0 million to $17.0 million of annual savings by 2017. These charges will be excluded from reported Adjusted Segment Operating Profit and Adjusted Income From Continuing Operations.

"We continue to take clear and decisive actions as part of our value-creating strategy," McMullen said. "These actions are positively impacting margins and accelerating growth in our specialty businesses. We are confident that they will result in a significant improvement in business performance over the long term."

For earnings history and earnings-related data on Omnova Solutions (OMN) click here.

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