New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
March 27, 2014
08:01 EDTBGCGeneral Cable cuts Q1 adjusted operating outlook to $17M-$27M from $30M-$45M
Relative to the Companyís previously communicated first quarter outlook, business activity in Venezuela has significantly lagged expectations due to the ongoing social unrest and uncertainty surrounding the recently announced price controls. In North America, operating results are expected to lag managementís expectations principally due to the extreme winter weather experienced across the region as unit volume is anticipated to be in the range of 4-6% lower than previously communicated for the first quarter. Finally, first quarter operating results are expected to be impacted by selling higher average cost inventory into a lower metal price environment as copper prices rapidly declined during the month of March. Given the current lower copper price environment, the ongoing uncertainty in Venezuela and the weather related issues in North America, the Company anticipates generating adjusted operating income for 2014 at around the low end of its previously communicated range of $260 to $320M. Going forward into the second quarter, the Company continues to expect a sharp improvement in operating results as construction activity accelerates and installation work on submarine projects in the North and Baltic Seas resumes. The current full year outlook now assumes copper and aluminum (Midwest Premium) prices of $3.01 and $0.96, respectively, and approximately $30M of operating income from Venezuela which is down from the previously communicated expectation of $45M.
News For BGC From The Last 14 Days
Check below for free stories on BGC the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
September 10, 2014
07:49 EDTBGCLongbow to hold a conference
Subscribe for More Information
September 9, 2014
08:59 EDTBGCDA Davidson's construction analyst holds an analyst/industry conference call
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use