The Valspar Corporation (NYSE:VAL) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 7%.
The Valspar Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 30.23% to $0.60 in the quarter versus EPS of $0.62 in the year-earlier quarter.
Revenue: Decreased 1.18% to $875.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: The Valspar Corporation reported adjusted EPS income of $0.60 per share. By that measure, the company missed the mean analyst estimate of $0.67. It missed the average revenue estimate of $922.05 million.
Quoting Management: “Although we made substantial progress this quarter on a number of key initiatives, international markets were weaker than anticipated,” said Gary E. Hendrickson, chairman and chief executive officer. “We continued to invest in our long term opportunities and remain confident we will achieve our new business plans for the full year. However, weak demand in certain international markets is expected to continue and thus we are adjusting our full-year guidance to $3.60 to $3.80 to reflect these market conditions.”
Key Stats (on next page)…