Libbey, Inc. (LBY) Misses Q1 EPS by 14c

Libbey, Inc. (NYSE: LBY) reported Q1 adjusted EPS of $0.12, $0.14 worse than the analyst estimate of $0.26. Revenue for the quarter came in at $181.6 million versus the consensus estimate of $178.7 million.

"First quarter revenues were negatively impacted by the severe weather in much of the United States in January and February; however, we saw improving trends during March. Higher energy costs, both in natural gas and electricity, packaging price increases and currency fluctuation, largely in the Americas, provided headwinds during the quarter. Our efforts over the last two years have strengthened our cost position considerably, and we are now focused on maintaining our hard-won margin increases and profitably growing our business," said Stephanie A. Streeter, chief executive officer of Libbey Inc. Streeter continued, "We look forward to a stronger sales environment in the remaining three quarters of 2014 and the opportunity to better leverage our global capabilities."

For earnings history and earnings-related data on Libbey, Inc. (LBY) click here.

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