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Meadwestvaco Corp Comments On Q1 2013 Earnings Guidance; Comments On FY 2013 Guidance

Wednesday, 30 Jan 2013 07:30am EST 

Meadwestvaco Corp announced that for the first quarter of 2013, it expects modestly lower earnings compared to the first quarter last year principally due to a difficult comparison in the Industrial segment, including higher startup expenses related to the Brazilian expansion, as well as lower earnings from land sales in the Community Development and Land Management segment. Despite what MWV expects to be a challenging demand environment, the Company expects sales, earnings and cash flow to grow in fiscal 2013 due to continued execution of the Company's profitable growth strategies, significant contribution from its expanded platform in Brazil, as well as benefits from acquired businesses. The Company reported EPS of $0.34 in the first quarter of 2012. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report EPS of $0.33 for the first quarter of 2013 and EPS of $1.76 and revenue of $5.791 billion for fiscal 2013. 

Company Quote

0.95 +2.39%
4:01pm EDT