General Cable Posts Narrower Than Estimated Q1 Loss; Guides Q2 Below Consensus

By RTT News, 
A A A


(RTTNews.com) - General Cable Corp. ( BGC ) reported a net loss for the first quarter of $315.4 million or $6.42 per share, compared to a net loss of $45.8 million or $0.92 per share for the year-ago quarter.

Excluding goodwill/intangible asset impairment and other items, adjusted loss per share for the first quarter was $0.05 per share, compared to earnings of $0.23 per share in the prior year quarter.

Net sales for the first quarter fell to $1.43 billion from $1.54 billion a year ago.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.09 per share on revenue of $1.52 billion for the first quarter. Analysts' estimates typically exclude special items.

Looking forward to the second quarter, the company forecasts revenue of $1.575 to $1.625 billion, earnings of $0.19 to $0.39 per share and adjusted earnings of $0.20 to $0.40 per share. Analysts currently expect the company to earn $0.51 per share on revenue of $1.65 billion for the second quarter.

For comments and feedback: contact editorial@rttnews.com

http://www.rttnews.com



This article appears in: Earnings

Referenced Stocks: BGC , TRI

RTT News


More from RTT News:

Related Videos

The Pumpkin Carvers
The Pumpkin Carvers                 

Stocks

Referenced

Most Active by Volume

88,066,694
  • $97.19 ▲ 2.61%
58,241,731
  • $71.29 ▲ 2.92%
51,058,864
  • $44.87 ▲ 0.09%
48,927,829
  • $28.75 ▲ 0.81%
46,551,917
    $15.52 unch
40,249,498
  • $3.46 ▼ 0.57%
38,633,031
  • $22.43 ▼ 9.63%
38,240,825
  • $34.71 ▲ 3.30%
As of 7/23/2014, 04:04 PM