Newell Rubbermaid Sees FY Sales At Low-end Of Outlook

(RTTNews) - Consumer products maker Newell Rubbermaid Inc. (NWL), Wednesday said its full year 2014 core sales growth is tracking to the low end of its guidance.

In a statement released ahead of its Analyst Day, the company reaffirmed its guidance for 2014.

Newell Rubbermaid, which makes Sharpie pens and Rubbermaid storage containers, said its 2014 core sales growth is tracking to the low end of its guidance range of 3 to 4 percent and normalized EPS is tracking to the high end of the guidance of $1.94 to $2.00.

Analysts polled by Thomson Reuters currently expect earnings of $2.00 per share with revenues of $5.84 billion or 2.6 percent growth for the year. Analysts' estimates typically exclude special items.

For the fiscal year 2015, the company expect earnings to range from $2.16 to $2.22 per share on core sales growth of 3.5 to 4.0 percent. Analysts currently expect earnings of $2.20 per share and revenues of $6.12 billion or 4.8 percent growth for 2015.

In July, the company reported a 37 percent surge in second-quarter profit as sales grew. The company also had announced a deal to buy Ignite Holdings LLC from private equity firm North Castle Partners for $308 million.

NWL is currently trading at $34.78, down $0.23 or 0.66%, on the NYSE.