Content about News - Financial

July 28, 2014

Armstrong World Industries fell short of its stated goals in the second quarter, leading in turn to a lowered full-year guidance for 2014.

"Despite soft sales, we delivered second-quarter adjusted EBITDA in the middle of our guidance range," said CEO Matt Espe. "The softer-demand environment we experienced in the quarter and first half of 2014 has tempered our outlook for the back half of the year."

July 25, 2014

Pleasanton, California-based Simpson Manufacturing reported a 6.4% increase in revenue during the second quarter of 2014.

Net sales for the three months ended June 30 were $207.9 million, compared to $195.3 million in the same period last year. Regionally, North America reported the largest increase in dollars, with Europe claiming the largest percentage jump at 9.1%.

Net income of $20.5 million for the quarter was also an improvement over 2013's $18.5 million bottom line. Gross profit also increased to $95.9 million from $89.2 million.

July 25, 2014

Stanley Black & Decker's second-quarter performance saw slow sales growth mixed with strong net earnings.

The company reported net sales of $2.9 billion for the three months ended June 28, up 1% compared to the same period last year. Net earnings attributable to common shareholders was $216.5 million, up from $187.1 million in the second quarter of 2013.

July 24, 2014

Boise Cascade posted solid numbers for its second quarter earnings report.

Net sales of $961.2 million for the three months ended June 30 marked a 13% improvement over last year's $852.3 million in sales. Meanwhile, net income came in at $26.4 million, up from $10.4 million in the second quarter of 2013.

July 24, 2014

USG Corporation touted its second quarter results, which brought in its highest quarterly net income since 2007.

Net sales for the three months ended June 30 came in at $948 million, an increase of 3.5% from $916 million year-over-year.

Net income for the quarter totaled $57 million, up from $25 million in the second quarter of 2013. An adjusted operating profit of $93 million was also a nice boost, up from $76 million.

July 23, 2014

Whirlpool Corporation reported net sales of about $4.7 billion in the second quarter of 2014, virtually unchanged from the company's performance in the same quarter last year.

Net sales for the three months ended June 30 totaled $4.68 billion, down 1.4% from $4.75 billion in 2013.

The company's bottom line read $179 million for the quarter, down from $198 million in the second quarter of last year.

July 18, 2014

Following its agreement last month to acquire Consorcio Comex, Pittsburgh, Pennsylvania-based PPG Industries released what it called a record performance for its second quarter. 

PPG reported net sales from continuing operations of $4.08 billion, up 5.1% from $3.88 billion in the same quarter last year.

Net income increased 13.2% to $386 million. 

PPG announced June 30 it had reached an agreement to acquire Consorcio Comex, a leading Latin American architectural and industrial coatings company, in a transaction valued at $2.3 billion.

July 17, 2014

A more stable lumber market boosted the second-quarter performance of Universal Forest Products, even as the company was forced to pay higher duties for Chinese nails. 

Universal reported second-quarter net earnings of $21.8 million, up 38.1% over net earnings of $15.8 million for the second quarter of 2013. Net sales were $773 million, up 4.6% from $738 million in the same quarter last year.

July 17, 2014

Sherwin-Williams reported a 12.1% sales increase and a corresponding boost in income for the second quarter.

The company took in net sales of $3.04 billion over the three months ended June 30, up from $2.71 billion in the second quarter of 2013.

The increase was largely buoyed by a 17.2% increase in net sales for the Paint Stores Group, due in large part to higher architectural paint sales volume.

This translated to a 13.3% boost in net income: $291.45 million in 2014, compared with $257.29 million in 2013.

July 11, 2014

Winona, Minnesota-based Fastenal Company reported steady progress for the second quarter of 2014, with sales and earnings both positive.

Net sales for the three-month period ended June 30, 2014 were $949.9 million, up 12.1% from the same period in 2013.

Net earnings came in at $130.5 million, an increase of 7.9% from last year's $121.0 million in earnings.

The company largely attributed the boost to higher unit sales and its recent investment in leadership and training, as well as in distribution and internal manufacturing capabilities.

July 10, 2014

Though sales were up 3% and income increased 1% for WD-40 Company in the third quarter, shares for the lubricants and cleaner supplier were down more than 6% Thursday morning after management narrowed the full-year guidance.

Net sales for the quarter came in at $95.7 million, up from $93.1 million in the same quarter last year. This was largely carried by sales of multi-purpose maintenance products; sales of homecare and cleaning products decreased 1%.

June 17, 2014

The National Retail Federation and the Retail Industry Leaders Association asked an appeals court to overturn a federal judge’s approval of a lawsuit settlement over Visa and MasterCard’s credit card swipe fees, saying it was negotiated by only a handful of merchants and would do nothing to bring the fees under control.

May 29, 2014

Earnings season for the 30 companies tracked by the HCN Stock Watch ended last week with the quarterly reports from Sears Holdings (not good) and Toro Company (not bad). 

May 22, 2014

The Toro Company made solid progress in the second fiscal quarter of 2014, with net sales up 5.8% and earnings pushing ahead 11.1%.

Total sales for the three-month period ended May 2, 2014 were $745.0 million, up from $704.5 million a year ago. Sales for the six-month period were also up 3.6%.

Meanwhile, net earnings came in at $87.1 million for the quarter, compared to $78.4 million in 2013. 

May 19, 2014

On the brink of further growth given its recent debut with Ace's Paint Studio concept, Valspar made solid gains in the second fiscal quarter of 2014.

Net sales of $1.13 billion reflected a year-over-year increase of 9.60% for the quarter ended April 25. The boost was carried mainly by the Coatings segment, which was up 12%; the Paints segment was also up 8%.

Net income came in at about $86.0 million, an 11.8% jump from last year's net of $76.9 million.

May 14, 2014

Eagle Materials reported significant growth in its fourth fiscal quarter and full year ended March 31, 2014.

Revenues for the quarter were up 19.3%, totaling $189.9 million. Net earnings were $22.6 million, up from $7.8 million year-over-year.

For the full year, Eagle pulled in sales of $898.4 million, up considerably from 2013's performance of $642.6 million. The company's bottom line also fared well for the year, netting $124.2 million and more than doubling 2013's net income.

May 12, 2014

Masonite International Corporation posted disappointing results in the first quarter of 2014, with a deeper cumulative loss and a sluggish sales pace that was, like for so many others, attributed to the harsh winter weather.

Net sales decreased 0.5% to $422.5 million for the three months ended March 30, which was partially explained by a 4.5% drop in unit volumes counterbalanced by a 5.7% increase in average unit price.

Meanwhile, net loss increased to $16.6 million from 2013's loss of $5.8 million.

May 9, 2014

Herndon, Virginia-based Beacon Roofing Supply joined the long list of LBM-related companies to report a negative impact from severe winter weather.

Sales decreased 7.5% to $384.9 million during the company’s second quarter ended March 31. 

On an overall consolidated basis, residential roofing product sales decreased 12.1%, non-residential roofing product sales decreased 2.3%, and complementary product sales decreased 4.1%.

May 9, 2014

Nashville, Tennessee-based Louisiana-Pacific reported first-quarter sales of $445 million, a 16% decline compared with the year-ago quarter. 

Like most building-material companies with construction-related customers, the winter weather was cited as a drag on the company's performance. 

May 6, 2014

Scotts Miracle-Gro reported a strong second quarter ended March 29, driven by strong sell-in of its consumer products in the United States and Europe.

Adjusted income from continuing operations increased 38% to $136.7 million from $99.3 million in the prior-year quarter. This growth was driven by increased sales, continued margin expansion and strong control of operating expenses.

Net sales were $1.08 billion for the quarter, up 7% from $1.01 billion a year ago, due to strong initial sell-in to retailers.

May 5, 2014

Lifetime Brands, a leading global provider of branded kitchenware, tableware and other products used in the home, is seeing the results of its aggressive growth strategy -- which included the acquisition of four businesses during the period -- in the first quarter ended March 31.

Consolidated net sales for the quarter were $118.4 million, soaring 20% from $98.7 million for the corresponding period in 2013.

May 2, 2014

Dealing with the adverse impacts of a harness buckle recall on some of its car seats and the weather-related slowdown in its home business, Newell Rubbermaid sales slipped 0.7% in the first quarter to $1.23 billion. 

“Strong core sales growth in Writing offset declines in Home Solutions and Baby, yielding normalized earnings per share of $0.35, flat with last year's results,” said Michael Polk, CEO. 

Net income declined 2.4% to $52.9 million. 

May 1, 2014

New store activity pushed Tile Shop Holdings net sales growth up into double digits in the first quarter, even though comp-store sales declined. 

Minneapolis-based Tile Shop Holdings, a specialty retailer of manufactured and natural stone tiles, setting and maintenance materials, saw net sales grow 13.3% to $64.4 million for the period ended March 31. Comparable-store sales declined 2.3%.

April 29, 2014

Raleigh, N.C.-based Stock Building Supply posted double-digit sales gains in the first quarter, as the company's loss narrowed. 

Net sales were up 12.6% to $280 million, compared with $248.7 million in last year's first quarter. The company's net loss of $3.3 million compared with a net loss of $4.1 million in the same period last year. 

Stock's sales growth was heavy on repair and remodeling, which accounted for sales gains of 17.3%. Sales to single-family home builders increased 9.0%.

April 29, 2014

Plum Creek Timber Company experienced a slow-down in sales during the first quarter of 2014, though a corresponding drop in income was largely expected due to to a timberland sale.

Net revenue for the three months ended March 31 was $317 million, down from $340 million in the same period last year. 

Net income for the quarter was $30 million, down 46.4% since the first quarter of 2013.

Despite the weak performance, CEO Rick Holley said he was pleased with the company's performance last quarter.