Zep, Inc. (ZEP) Misses Q2 EPS by 5c

Zep, Inc. (NYSE: ZEP) reported Q2 EPS of $0.01, $0.05 worse than the analyst estimate of $0.06. Revenue for the quarter came in at $160.1 million versus the consensus estimate of $159.87 million.

“I’m pleased to see a continuation of organic sales growth trends this quarter. Transportation-related end-markets continued to show strong growth while promotional activity drove increases in our retail home center business,” said John K. Morgan, Chairman, President and Chief Executive Officer of Zep Inc. “Due to the outstanding effort of our associates, we’ve now established full aerosol capability and minimized the revenue impacts from the fire. Additionally, as we communicated last quarter, we reduced inventory in the quarter that resulted in unfavorable manufacturing absorption which negatively impacted earnings by $0.02 per diluted share compared to the prior year.”

For earnings history and earnings-related data on Zep, Inc. (ZEP) click here.

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