Content about News - Financial

June 17, 2014

The National Retail Federation and the Retail Industry Leaders Association asked an appeals court to overturn a federal judge’s approval of a lawsuit settlement over Visa and MasterCard’s credit card swipe fees, saying it was negotiated by only a handful of merchants and would do nothing to bring the fees under control.

May 29, 2014

Earnings season for the 30 companies tracked by the HCN Stock Watch ended last week with the quarterly reports from Sears Holdings (not good) and Toro Company (not bad). 

May 22, 2014

The Toro Company made solid progress in the second fiscal quarter of 2014, with net sales up 5.8% and earnings pushing ahead 11.1%.

Total sales for the three-month period ended May 2, 2014 were $745.0 million, up from $704.5 million a year ago. Sales for the six-month period were also up 3.6%.

Meanwhile, net earnings came in at $87.1 million for the quarter, compared to $78.4 million in 2013. 

May 19, 2014

On the brink of further growth given its recent debut with Ace's Paint Studio concept, Valspar made solid gains in the second fiscal quarter of 2014.

Net sales of $1.13 billion reflected a year-over-year increase of 9.60% for the quarter ended April 25. The boost was carried mainly by the Coatings segment, which was up 12%; the Paints segment was also up 8%.

Net income came in at about $86.0 million, an 11.8% jump from last year's net of $76.9 million.

May 14, 2014

Eagle Materials reported significant growth in its fourth fiscal quarter and full year ended March 31, 2014.

Revenues for the quarter were up 19.3%, totaling $189.9 million. Net earnings were $22.6 million, up from $7.8 million year-over-year.

For the full year, Eagle pulled in sales of $898.4 million, up considerably from 2013's performance of $642.6 million. The company's bottom line also fared well for the year, netting $124.2 million and more than doubling 2013's net income.

May 12, 2014

Masonite International Corporation posted disappointing results in the first quarter of 2014, with a deeper cumulative loss and a sluggish sales pace that was, like for so many others, attributed to the harsh winter weather.

Net sales decreased 0.5% to $422.5 million for the three months ended March 30, which was partially explained by a 4.5% drop in unit volumes counterbalanced by a 5.7% increase in average unit price.

Meanwhile, net loss increased to $16.6 million from 2013's loss of $5.8 million.

May 9, 2014

Herndon, Virginia-based Beacon Roofing Supply joined the long list of LBM-related companies to report a negative impact from severe winter weather.

Sales decreased 7.5% to $384.9 million during the company’s second quarter ended March 31. 

On an overall consolidated basis, residential roofing product sales decreased 12.1%, non-residential roofing product sales decreased 2.3%, and complementary product sales decreased 4.1%.

May 9, 2014

Nashville, Tennessee-based Louisiana-Pacific reported first-quarter sales of $445 million, a 16% decline compared with the year-ago quarter. 

Like most building-material companies with construction-related customers, the winter weather was cited as a drag on the company's performance. 

May 6, 2014

Scotts Miracle-Gro reported a strong second quarter ended March 29, driven by strong sell-in of its consumer products in the United States and Europe.

Adjusted income from continuing operations increased 38% to $136.7 million from $99.3 million in the prior-year quarter. This growth was driven by increased sales, continued margin expansion and strong control of operating expenses.

Net sales were $1.08 billion for the quarter, up 7% from $1.01 billion a year ago, due to strong initial sell-in to retailers.

May 5, 2014

Lifetime Brands, a leading global provider of branded kitchenware, tableware and other products used in the home, is seeing the results of its aggressive growth strategy -- which included the acquisition of four businesses during the period -- in the first quarter ended March 31.

Consolidated net sales for the quarter were $118.4 million, soaring 20% from $98.7 million for the corresponding period in 2013.

May 2, 2014

Dealing with the adverse impacts of a harness buckle recall on some of its car seats and the weather-related slowdown in its home business, Newell Rubbermaid sales slipped 0.7% in the first quarter to $1.23 billion. 

“Strong core sales growth in Writing offset declines in Home Solutions and Baby, yielding normalized earnings per share of $0.35, flat with last year's results,” said Michael Polk, CEO. 

Net income declined 2.4% to $52.9 million. 

May 1, 2014

New store activity pushed Tile Shop Holdings net sales growth up into double digits in the first quarter, even though comp-store sales declined. 

Minneapolis-based Tile Shop Holdings, a specialty retailer of manufactured and natural stone tiles, setting and maintenance materials, saw net sales grow 13.3% to $64.4 million for the period ended March 31. Comparable-store sales declined 2.3%.

April 29, 2014

Raleigh, N.C.-based Stock Building Supply posted double-digit sales gains in the first quarter, as the company's loss narrowed. 

Net sales were up 12.6% to $280 million, compared with $248.7 million in last year's first quarter. The company's net loss of $3.3 million compared with a net loss of $4.1 million in the same period last year. 

Stock's sales growth was heavy on repair and remodeling, which accounted for sales gains of 17.3%. Sales to single-family home builders increased 9.0%.

April 29, 2014

Plum Creek Timber Company experienced a slow-down in sales during the first quarter of 2014, though a corresponding drop in income was largely expected due to to a timberland sale.

Net revenue for the three months ended March 31 was $317 million, down from $340 million in the same period last year. 

Net income for the quarter was $30 million, down 46.4% since the first quarter of 2013.

Despite the weak performance, CEO Rick Holley said he was pleased with the company's performance last quarter.

April 29, 2014

Pointing to success of an expanded farm, ranch, auto and pet assortments, Chicago-based True Value posted gains in gross billings and revenues for the first quarter ended March 29.

The co-op reported gross billings of $460.1 million for the quarter, up 3.6% from $444.2 million for the same period a year ago. Revenue was $331.5 million, an increase of 6.0%.

The cooperative posted a quarterly net margin of $0.9 million, up slightly from $0.4 million a year ago.

April 28, 2014

Armstrong World Industries pointed to favorable momentum benefiting both its top and bottom line in the first quarter of 2014.

Net sales for Armstrong were $634.4 million, up nearly 2% from the same period in 2013.

Net income came in at $16.9 million for the three months ended March 31, representing a good change from $3.2 million last year. A lower interest expense due to the write-off of deferred financing costs during last year's first quarter helped the company's bottom line.

April 28, 2014

Masco Corporation delivered a robust first quarter earnings report, with sales and income both demonstrating strong forward momentum.

Net sales for the three months ended March 31 were $1.97 billion, up from $1.88 billion in the first quarter of 2013.

The company attributed its top-line growth mainly to Plumbing Products, Installation and Other Services, as well as Other Specialty Products. International sales were also up in Europe.

Meanwhile, net income came in at $74 million, compared to $53 million in the same year-ago period.

April 28, 2014

Simpson Manufacturing scored considerable increases in both its top and bottom line in the first quarter of 2014.

Net sales for the three months ended March 31 were $168.3 million, up 9.1% from 2013's total revenue of $154.3 million. This was largely attributed to a large increase in North American sales, as well as the Europe and Asia/Pacific segments.

In terms of net income, the company took home $12.1 million, more than double its $4.8 million income in 2013.

April 28, 2014

USG Corp. reported its strongest first-quarter results since 2007, and profitability in its L&W Supply division.

First-quarter net sales of $850 million were up 4% over the previous year period. Net income of $45 million compares with net income of $2 million in the first quarter of 2013.

April 28, 2014

Federal Way, Wash.-based Weyerhaeuser reported first-quarter sales of $1.984 billion, up slightly from $1.951 billion in the first quarter last year.

“Despite unusually severe winter weather, we delivered strong operating results in the quarter," said Doyle Simons, president and CEO. "Our Timberlands business is realizing increasing benefits from the Longview Timber acquisition and reported its highest quarterly earnings, excluding land sales since 2006." 

April 25, 2014

After the winter of 2014, executives have emphasized the impact of the weather in a high percentage of first-quarter reports. Dallas-based BuildersFirst Source is no exception. 

Despite the cold -- and the relatively flat construction activity -- sales increased 8.2% to $345.9 million for the pro dealer.

The company posted a net loss of $3.4 million, compared with a net loss of $11.8 million in the same quarter last year.

April 25, 2014

Huttig Building Products posted solid growth in the first quarter of 2014, with sales increasing nearly 9% over the same period last year. However, the company's net loss widened.

Net sales for the three months ended March 31 were $135.3 million, compared to $124.5 million in 2013.

The net income came in as a loss of $4.0 million, down from a loss of $2.0 million in last year's first quarter.

April 24, 2014

Stanley Black & Decker (SWK) got a leg up of 3.75%, pushing its share price to $85.53 at Thursday's close. USG had an opposite fate, falling 4.12%.

April 23, 2014

The market carried the positive momentum forward on Tuesday, with Stock Building Supply (STCK) taking home the biggest gains at 5.02%.

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