rjm77me's Blog : SEE = Value play =ON BOXING DAY SALE/ cheaper today

July earning release info

misses by $0.01, beats on revs; issues Q4 guidance and slightly lowers FY11 EPS guidance (17.61 ) : Reports Q3 (Sep) earnings of $0.48 per share, excluding items, $0.01 worse than the Capital IQ Consensus Estimate of $0.49; revenues rose 10.4% year/year to $1.25 bln vs the $1.23 bln consensus. Co sees Q4 revs of $2.11-2.18 bln, may not compare to $1.29 bln Capital IQ Consensus Estimate. Co sees Q4 adjusted EBITDA in the range of $335 to $345 mln and capital expenditures in the range of $45 to $55 million. "For the fourth quarter, we expect continued year-over-year growth in our food and protective segments although at a slower pace than previously anticipated. We also expect our Diversey segment to show modest constant dollar sales improvement compared with the prior year. We continue to anticipate ongoing benefits from our prior pricing actions that will further improve profit margins in the quarter as raw material prices are expected to decline sequentially.... When we achieve a net debt level below our target of $4.5 billion, we anticipate returning a portion of free cash flow to shareholders in the form of a higher dividend or through share repurchases... We have updated our 2011 full year EPS guidance range to reflect the slowing pace of economic growth seen mid-third quarter and expected through year end."Co sees FY11 EPS of $1.70-1.75, prior $1.75-1.85, vs. $1.74 Capital IQ Consensus Estimate.

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