Beam, Inc. (BEAM) Tops Q1 EPS by 10c; Confidence in 2013 Outlook
Tweet
Share
E-mailGet Alerts BEAM Hot Sheet
Join SI Premium – FREE
Beam, Inc. (NYSE: BEAM) reported Q1 EPS of $0.64, $0.10 better than the analyst estimate of $0.54. Revenue for the quarter came in at $577.7 million versus the consensus estimate of $565.93 million.
Confidence in 2013 Outlook
“We compete in a dynamic, profitable and growing industry with excellent fundamental trends across our markets,” Shattock continued. “As we look ahead, we continue to see our global market growing in the range of 3% for the year. With the success of our investments to further strengthen our premium brand equities, drive growth through innovation and enhance our routes to market, we feel very well positioned to continue outperforming our global market in 2013 and to drive sustainable, profitable long-term growth. At the bottom line, the timing of costs that was a tailwind in Q1 will be a headwind that we expect will result in a moderate EPS growth rate over the next couple of quarters.
“Our first quarter results combined with our inherent strengths reinforce our confidence in our outlook for the full year, and we’re reaffirming our target to deliver high-single-digit growth in diluted EPS before charges/gains for 2013.”
The company also reaffirmed its target to generate free cash flow for 2013 in the range of $300-350 million, which incorporates continued investment to increase distillation capacity and produce more aged spirits to support long-term growth.
For earnings history and earnings-related data on Beam, Inc. (BEAM) click here.
Confidence in 2013 Outlook
“We compete in a dynamic, profitable and growing industry with excellent fundamental trends across our markets,” Shattock continued. “As we look ahead, we continue to see our global market growing in the range of 3% for the year. With the success of our investments to further strengthen our premium brand equities, drive growth through innovation and enhance our routes to market, we feel very well positioned to continue outperforming our global market in 2013 and to drive sustainable, profitable long-term growth. At the bottom line, the timing of costs that was a tailwind in Q1 will be a headwind that we expect will result in a moderate EPS growth rate over the next couple of quarters.
“Our first quarter results combined with our inherent strengths reinforce our confidence in our outlook for the full year, and we’re reaffirming our target to deliver high-single-digit growth in diluted EPS before charges/gains for 2013.”
The company also reaffirmed its target to generate free cash flow for 2013 in the range of $300-350 million, which incorporates continued investment to increase distillation capacity and produce more aged spirits to support long-term growth.
For earnings history and earnings-related data on Beam, Inc. (BEAM) click here.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- BayCom Corp (BCML) Misses Q1 EPS by 4c
- United Security Bancshares (UBFO) Reports Q1 EPS of $0.24
- Five Point Holdings, LLC (FPH) Reports Q1 EPS of $0.03
Create E-mail Alert Related Categories
Earnings, GuidanceRelated Entities
EarningsSign 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!
