Valspar Q2 Profit Beats Street; Backs FY14 Adj. EPS View - Quick Facts

(RTTNews) - Valspar Corp.'s (VAL) second-quarter net income advanced to $85.96 million, or $0.99 per share, from $76.91 million, or $0.84 per share, last year.

On an adjusted basis, net income, excluding nonrecurring items, totaled $93 million, or $1.07 per share for the recent quarter. On average, 14 analysts polled by Thomson Reuters expected earnings per share of $1.04 for the quarter. Analysts' estimates typically exclude one-time items.

Quarterly net sales of $1.13 billion, were 10 percent higher than the prior year's $1.03 billion, while ten analysts estimated revenues of $1.11 billion for the period.

Looking ahead, the company confirmed its annual adjusted earnings per share guidance of $3.95 - $4.15, whereas 15 analysts project full-year earnings per share of $4.07.