Newell Rubbermaid To Reaffirm 2014 Outlook - Quick Facts

(RTTNews) - Consumer and commercial products company Newell Rubbermaid Inc. (NWL) announced Friday that it will reaffirm its fiscal year 2014 outlook, during its presentation today at the Consumer Analyst Group of New York or CAGNY conference.

Looking ahead to fiscal 2014, the company still expects earnings to be in a range of $1.61 to $1.67 per share, and normalized earnings in the range of $1.94 to $2.00 per share, on projected core sales growth of 3 to 4 percent. Annual net sales are expected to grow 2 to 3 percent. Analysts polled by Thomson Reuters expect the company to report earnings of $1.99 per share and revenues of $5.85 billion for fiscal 2014. Analysts' estimates typically exclude special items.

The company's 2014 normalized earnings per share guidance excludes between $100 million and $120 million of Project Renewal restructuring and restructuring-related costs.

The company expects foreign exchange to have a negative impact on net sales of about 100 basis points.

The company said it is on track to realize cumulative annualized cost savings of $270 to $325 million by the second quarter of 2015 related to Project Renewal. The majority of these savings will be reinvested in the business to strengthen brand building and selling capabilities and accelerate growth.

Annual Operating cash flow is expected between $600 million and $650 million. This operating cash flow guidance assumes $100 million to $120 million in restructuring and restructuring-related cash payments.

Capital expenditures for the year are projected at $150 million to $175 million.