Newell Rubbermaid (NWL) Affirms FY14 Outlook; Guides FY15 into Analyst Day
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EPS Growth %: -16.7%
Financial Fact:
Restructuring costs: 13M
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Newell Rubbermaid (NYSE: NWL) will host an Analyst Day during which it will provide insights into the progress of strategic initiatives to enhance brand development, innovation, marketing and design capabilities and build a robust brand and innovation pipeline for accelerated growth. The company will also provide an update on its Growth Game Plan strategy and financial outlook.
Newell Rubbermaid will reaffirm 2014 guidance, stating that its 2014 core sales growth is tracking to the low end of the guidance range of 3 to 4 percent and normalized EPS is tracking to the high end of the guidance range of $1.94 to $2.00.
During its presentation, the company will also introduce 2015 full year guidance as follows:
Core sales growth | 3.5% to 4.0% |
Currency impact | (2.0%) to (2.5%) |
Impact of acquisitions and divestitures | 1.5% to 2.0% |
Net sales growth | 3.0% to 3.5% |
Normalized EPS | $2.16 to $2.22 (The Street sees EPS of $2.20.) |
The Analyst Day event will be webcast live starting at 9:00 a.m. ET. To access the webcast, please visit Events & Presentations in the Investor Relations section of the Newell Rubbermaid website at www.newellrubbermaid.com. The webcast will be archived and available for replay.
A reconciliation of the 2015 earnings outlook is as follows:
Diluted EPS | $2.02 to $2.10 |
Restructuring and restructuring-related costs | 0.08 to 0.16 |
Normalized EPS | $2.16 to $2.22 |
A reconciliation of the 2014 outlook is as follows:
Core sales growth | 3% to 4% |
Currency impact | ~(1.5%) |
Net sales growth | 1.5% to 2.5% |
Diluted EPS | $1.38 to $1.44 |
Restructuring and restructuring-related costs | 0.29 to 0.37 |
Costs associated with the harness buckle recall | 0.03 |
Currency devaluation – Venezuela | 0.09 |
Inventory charge from the devaluation of the Venezuelan Bolivar | 0.01 |
U.S. pension settlement charge | 0.11 to 0.13 |
Resolution of income tax contingencies | (0.01) |
Income from discontinued operations | (0.01) |
Normalized EPS | $1.94 to $2.00 |
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