Business in the Burbs » Earnings forecast

Jarden expects 2Q earnings to meet or beat analyst estimates

Jay Loomis — Mon, 20 Jul 2009 20:48:15 +0000

Shares of Jarden Corp. rallied yesterday after the Rye-based consumer products company said that it expects to meet or exceed analyst estimates for earnings during the second quarter.

Jarden, which markets Coleman camping equipment, Mr. Coffee brewers and Bicycle playing cards, also expects the quarterly revenues to be in line with or slightly exceed analyst estimates, according to a company regulatory filing. Jarden is expected to release a full earnings report on Wednesday. Jarden’s stock rose 44 cents to $21.44 today.

Revenues expected to fall at Hudson Technologies

Jay Loomis — Thu, 16 Jul 2009 15:57:00 +0000

Cooler weather in the Northeast this summer has hurt sales at Hudson Technologies Inc., a Pearl River-based company that sells products for the air conditioning and refrigeration markets.

The company today released preliminary results for the second quarter that estimated revenues of $8.3 million, down from $13.1 million a year earlier. The company added that it expects to report earnings per share in the range of flat to 1 cent.

“Looking back on the first and second quarter, we see that the combination of an ailing economy and prolonged unseasonably cool weather in the North, particularly in the Northeast, have dramatically impacted our industry,” Kevin J. Zugibe, chairman and chief executive officer, said in a written statement.

Pepsi Bottling raises earnings outlook

Jay Loomis — Tue, 02 Jun 2009 17:35:12 +0000

Pepsi Bottling Group Inc., the world’s largest distributor of Pepsi beverage products, said that improved soft drink sales in the United States are one reason why the company is raising its earnings outlook.

The Somers-based company said that it expects to report earnings per share of 70 cents to 74 cents in the second quarter, up 5 cents from earlier estimates. For 2009, the company anticipates earnings per share of $2.30 to $2.40, up 10 cents from a previous forecast. The company also raised its full-year operating free cash flow guidance by $25 million to $525 million.

Pepsi Bottling also cited lower volatility in foreign currencies and decreases in commodity costs for its improved outlook.

“Improving fundamentals in our U.S. and Canada business, coupled with the success of our global pricing strategy, are producing solid results,” Chief Executive Officer Eric Foss said in a written statement. “We’re also delivering significant cost and productivity savings and superior execution at the point of sale.”

ITT reaffirms earnings outlook

Jay Loomis — Mon, 18 May 2009 17:15:35 +0000

ITT Corp., a White Plains-based defense contractor and diversified manufacturer, reaffirmed its outlook for profits and revenues in 2009. ITT said that it stands by projections that call for earnings from continuing operations of $3.20 to $3.60 per share, excluding the impact of tax and other special items. The company also reaffirmed its full-year revenue guidance of $10.6 billion to $11.0 billion.

Dress Barn cites improved outlook at stores

Jay Loomis — Mon, 13 Apr 2009 20:37:57 +0000

Dress Barn Inc., the Montebello-based retailer, said that conditions are improving at its stores early this year as shoppers respond to its merchandise selection.

Dress Barn, which operates more than 1,500 dressbarn and maurices stores across the country, said that it expects to report earnings per share of 30 cents to 32 cents for its fiscal third quarter ending April 25, 2009. The company added that it expects flat sales at stores open for at least a year.

For Dress Barn, that would be an improvement from the holiday shopping season that was a disappointment for a retail industry facing one of the steepest economic downturns since the Great Depression.

Chief Executive Officer David R. Jaffe said Dress Barn is benefiting from efforts to clear inventory and cut costs.

“Our planning continues to assume a challenging market environment, and we will remain vigilant on further improving our business,” Jaffe said in a written statement.

IBM reaffirms 2009 earnings outlook

Jay Loomis — Thu, 26 Feb 2009 20:03:59 +0000

IBM Corp., the Armonk-based computer services giant whose business has held up better in the recession than many companies, cheered investors today by reaffirming its earnings guidance for 2009.

IBM projected that it expects earnings per share to total at least $9.20 in 2009—- with a relatively flat performance in the first quarter, according to a filing with the U.S. Securities and Exchange Commission.

The forecast matches the guidance that the company gave in January.

“Regarding the services business, quarter-to-date the company has had year-to-year growth in signings, with strong double-digit growth in long term signings,” the SEC filing read. “Recognizing that it is still early in the quarter, the company expects double-digit growth in long term signings, and growth in total signings in first quarter 2009.”

IBM, which had a cash balance of nearly $13 billion at the end of last year, said that it is is repurchasing its shares in the open market.

In another development, IBM said it has signed a contract extension to provide information technology services to Primagaz, an energy company in France. Under the five-year extension, Armonk-based IBM will manage data processing systems for Primagaz. Financial terms of the contract were not disclosed.

Shares of IBM rose $2.96 to $88.86 in trading today on the New York Stock Exchange.

Bunge stock falls on weaker outlook

Jay Loomis — Wed, 14 Jan 2009 18:37:26 +0000

Shares of Bunge Ltd. dropped 12 percent today after the White Plains-based agribusiness giant lowered its 2008 profit estimates in response to weaker demand for farm products in a slowing world economy.

Bunge is heavily exposed to the ups and downs of the agricultural economy through operations that include supplying fertilizer to farmers in South America, processing soybeans and grains worldwide and producing food products for consumers.

Bunge and other agricultural companies are feeling the effects with the United States suffering through one of the worst recessions since the Great Depression, and international economies also hurting.

“In the fourth quarter, demand fell more than we anticipated,” Chief Financial Officer Jacqualyn Fouse said in a written statement.

Bunge shares fell $5.90 to $42.27 in early afternoon trading on the New York Stock Exchange.
One of Bunge’s most challenging markets was Brazil, which accounts for about 20 percent of the company’s sales. Bunge said that tight credit conditions hurt sales to farmers and slowed fertilizer sales in the Brazilian market.

The company added that its fertilizer business was also affected by foreign exchange losses of about $225 million related to the Brazilian real losing about 18 percent of its value compared to the U.S. dollar during the fourth quarter.

Bunge estimated that 2008 earnings will be $1.06 billion, or $7.70 per share. That is less than Bunge’s previous estimates of $11.60 to $11.90 a share. Bunge also said that it expects to record an after tax charge of $160 million related to potential delinquent bill payments from clients.

Fouse said she is hopeful of a turnaround.

“Periods of soft demand are typically short lived in our industry, and we expect to see fundamentals improve during 2009,” Fouse said.

Fouse added that a recent uptick in commodity prices “has improved farm economics. This is encouraging farmers to sell their crops and should stimulate purchases of crop nutrients during the year.”

Bunge is scheduled to release a full earnings report for the fourth quarter on Feb. 5.

Universal American issues earnings guidance

Jay Loomis — Tue, 13 Jan 2009 22:40:25 +0000

Universal American Corp., a Rye Brook-based health insurer and managed care company, said that it expects to report earnings per share of $1.47 and $1.57 in 2009. That compares to anayst estimates of $1.53 a share. The company discussed the guidance during the J.P. Morgan 27th Annual Healthcare Conference today in San Francisco.

Prestige stock plunges on earnings shortfall

Jay Loomis — Tue, 13 Jan 2009 21:12:11 +0000

Shares of Prestige Brands Holdings Inc. dropped nearly 18 percent today after the Irvington-based consumer products company battled a slowing economy and disappointed investors with earnings and sales projections that were below expectations.

Prestige, whose products include Comet cleanser, Murine eye drops and Prell shampoo, said that it expected earnings per share for its fiscal third quarter will be 1 cent to 2 cents below the previous year’s quarter when it reported net income of 17 cents a share.

Prestige blamed the shortfall on flat revenues and increased advertising costs for its key brands. Prestige and other consumer products companies are facing face headwinds from a slowing economy in which budget-strapped shoppers are spending less.

“In today’s challenging economic climate, we are generally satisfied that our total revenues are expected to be even with last year,” Mark Pettie, chairman and chief executive officer, said in a written statement. “Importantly, most of our focus brands performed better than their respective categories during the quarter, resulting in market share gains for those franchises.”

The company is scheduled to release its full results before the market opens on Feb. 5.

Prestige’s shares fell $1.47 to $6.91 in late afternoon trading on the New York Stock Exchange.

Jarden boosts revenue outlook

Allan Drury — Wed, 07 Jan 2009 22:13:28 +0000

Jarden Corp., the consumer products company based in Rye, predicted today that its fourth-quarter revenues will be slightly higher than the $1.3 billion estimate provided earlier.

Revenue for all of 2008 is expected to be about $5.35 billion, the company said this morning.
The company also said it finished the year with more than $360 million in cash on its balance sheet. That means the company believes its leverage ratio for bank purposes as of Dec. 31, 2008, will be about 3.7 times.

The company expects to report its fourth-quarter earnings on Feb. 12.

Jarden’s products and brands include Crock-Pot, FoodSaver, Mr. Coffee and Bicycle playing cards.