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General Cable Corp Reaffirms FY 2013 Operating Income Guidance; Issues Q1 2013 Guidance


Monday, 25 Feb 2013 08:00am EST 

General Cable Corp announced that for fiscal 2013, assuming copper prices remain at relatively stable levels, the Company confirmed its guidance for operating income in the range of $300 to $340 million on 1.4 to 1.5 billion metal pounds sold. The Company's first quarter 2013 revenues are expected to be in the range of $1.55-$1.60 billion assuming year-to-date average metal prices on slightly lower unit volume sequentially. The Company expects adjusted operating income to be in the range of $40 to $50 million and adjusted earnings per share (EPS) to be in the range of $0.22-$0.32 per share before the impact of non-cash convertible debt interest expense and mark to market gains or losses on derivative instruments. Also, excluded from the first quarter outlook is the impact of the recent Venezuelan currency devaluation, which is expected to result in a non-recurring charge in the range of $42 million or $0.82 per share principally due to the remeasurement of the Company's local balance sheet on the date of the devaluation. 

Company Quote

12.97
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26 Nov 2014