Valspar earnings fall on lower sales, but beat estimates

摘要

Valspar today reported fiscal fourth-quarter net income down 5% year-on-year (YOY), to $102.4 million, on sales down 9%, to $1.15 billion. Volumes declined 2% YOY during the quarter, and negative currency impacts reduced earnings by 6%. Adjusted earnings totaled $1.35/share, beating analysts consensus estimate of $1.31/share, as reported by Thomson Reuters. Valspars fiscal fourth-quarter ended on 30 October.