Spectrum Brands Holdings Reports Fiscal 2017 First Quarter Results, Reaffirms Outlook for 8th Consecutive Year of Record Financial Performance
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Go back to Spectrum Brands Holdings Reports Fiscal 2017 First Quarter Results, Reaffirms Outlook for 8th Consecutive Year of Record Financial Performance
January 27, 2017 10:12 AM EST
Jefferies raised its price target on Spectrum Brands (NYSE: SPB) to $160.00 (from $147.00) while maintaining a Buy rating.
Analyst Kevin Grundy commented, "We maintain our Buy rating post a relatively in-line 1Q, which provided some reassurance following a clumsy 4Q back in... More
January 26, 2017 6:36 AM EST
Spectrum Brands (NYSE: SPB) reported Q1 EPS of $1.21, $0.05 better than the analyst estimate of $1.16. Revenue for the quarter came in at $1.21 billion versus the consensus estimate of $1.23 billion.
Fiscal 2017 Outlook
Spectrum Brands expects fiscal 2017 reported net sales to grow above category rates, along with an anticipated negative impact from foreign exchange of approximately 100 to 150 basis points.
Fiscal 2017 free cash flow is projected to be approximately $575-$590 million compared to $535 million in fiscal 2016. Capital expenditures are expected to be in the range of $110 million to $120 million, including rollover spending from fiscal 2016. These incremental investments will support... More
