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June 26, 2014
12:26 EDTVAL, SHW, RPM, FULH.B. Fuller falls after cutting full year profit outlook
Shares of H.B. Fuller (FUL), which manufactures adhesives, sealants and other specialty chemical products, are falling after the company cut its fiscal 2014 earnings per share outlook. WHAT'S NEW: Last night, H.B. Fuller reported second quarter adjusted EPS of 78c and revenue of $544M, compared to analysts' consensus estimates of 78c and $545.18M, respectively. WHAT'S NOTABLE: The company cut its FY14 EPS view to $2.80-$2.95 from $3.00-$3.15, versus consensus of $3.07. It said the downward revision reflects the expected delay in realizing margin improvement following the completion of the business integration project in Europe. The company is also adjusting its guidance for core income tax rate, which excludes discrete items, to 29% for the full year, down from its previous guidance of 30%. On its earnings conference call, H.B. Fuller said FY14 revenue growth was expected to be at the low end of its long-term range, compared to consensus of $2.14B. It also said margin expansion will be delayed this year. Management said Q2 ended with "good momentum" that should carry the company through the rest of the year. They now expect to exit the year slightly behind their 14% EBITDA margin target, and anticipate that all project one related impacts that the company experienced will be resolved. They expect inventory balance to return to more normal levels by the end of this fiscal year, and CapEx levels are expected to drop in the second half. PRICE ACTION: In early afternoon trading, H.B. Fuller fell $3.07, or about 6.1%, to $47.18 on heavy trading volume. Despite today's pull back, the stock is up approximately 20% over the past 12 months. OTHERS TO WATCH: Other companies in the sealants and chemicals space include Sherwin-Williams (SHW), The Valspar Corporation (VAL), and RPM International (RPM).
News For FUL;SHW;VAL;RPM From The Last 14 Days
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December 12, 2014
07:04 EDTSHWSherwin-Williams sees FY15 EPS $10.65-$10.85, consensus $10.87
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07:03 EDTSHWSherwin-Williams sees FY14 EPS $8.75-$8.80, consensus $8.81
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December 11, 2014
08:40 EDTSHWSherwin-Williams price target raised to $260 from $240 at RW Baird
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06:52 EDTSHWSherwin-Williams to host conference call
Conference call to discuss the recently announced HGTV HOME™ by Sherwin-Williams paint program will be held on December 12 at 11 am. Webcast Link
December 10, 2014
17:23 EDTRPMRPM announces court approval of agreement to resolve asbestos claims
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December 5, 2014
10:00 EDTVALOn The Fly: Analyst Downgrade Summary
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10:00 EDTVALOn The Fly: Analyst Upgrade Summary
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07:13 EDTVALValspar upgraded to Overweight on oil price pullback at JPMorgan
JPMorgan upgraded Valspar to Overweight saying the recent 30% decrease in the price of oil are positive for the paint and coatings industry. The firm raised its price target for shares to $91 from $83.
06:40 EDTVALValspar downgraded to Buy from Conviction Buy at Goldman
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06:26 EDTVALValspar upgraded to Overweight from Neutral at JPMorgan
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