Newell Rubbermaid Reaffirms 2014 Outlook

(RTTNews) - Consumer and commercial products company Newell Rubbermaid, Inc. (NWL) announced Tuesday that it will reaffirm its outlook for the full-year 2014 in a presentation being made by President and CEO Michael Polk at the Morgan Stanley Global Consumer & Retail Conference later in the day. The company also provide earnings and sales growth outlook for the full-year 2015.

The Atlanta, Georgia-based S&P 500 company continues to expect earnings, primarily including restructuring, restructuring-related and other project costs of $0.29 to $0.37 per share, for fiscal 2014 in a range of $1.33 to $1.39 per share. This also includes $0.13 per share of Venezuela exchange rate impacts, and $0.10 to $0.14 per share of pension settlement charge.

Excluding items, normalized earnings are also still projected to be in the range of $1.94 to $2.00 per share.

The company also still projects core sales growth to be in the range of 3 to 4 percent, excluding 1.8 percentage points negative impact from currency translation.

On average, analysts polled by Thomson Reuters currently expect the company to report earnings of $2.00 per share on sales growth of 1.3 percent to $5.77 billion for fiscal 2014. Analysts' estimates typically exclude special items.

Further, fiscal 2014 normalized operating margin is still anticipated to improve up to 40 basis points, and operating cash flow is projected to be between $600 and $650 million.

Looking ahead to fiscal 2015, the company now anticipates net earnings in a range of $1.86 to $1.92 per share, and normalized earnings in the range of $2.16 to $2.22 per share, on projected core sales growth of 4.5 to 4.0 percent, excluding 2.0 to 2.5 percentage points negative impact from currency translation.

Street is currently looking for full-year 2015 earnings of $2.20 per share on annual sales growth of 4.10 percent to $6.00 billion.

Newell markets well-known brands such as Rubbermaid food storage, home organization, and refuse container products; Sharpie, PaperMate, Parker and Waterman writing instruments; Goody beauty and personal grooming products; Dymo home and business labeling solutions etc.

NWL closed Monday's regular trading session at $35.62, up $0.80 on a volume of 2.13 million shares.