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Newell Rubbermaid To Reaffirm Fiscal Year 2012 Outlook At Barclays Capital Back-to-School Consumer Conference

Newell Rubbermaid Inc. (NYSE: NWL) announced it will reaffirm its fiscal year 2012 outlook, as provided in its second quarter 2012 earnings press release dated July 27, 2012, at the Barclays Capital Back-to-School Consumer Conference. The company maintains its full year expectation for core sales growth of 2 to 3 percent, which excludes a projected negative impact on net sales of 2 percentage points from currency. The company continues to expect 2012 normalized operating margin improvement of up to 20 basis points and 2012 normalized earnings per diluted share of between $1.63 and $1.69. The operating cash flow outlook is unchanged at between $550 and $600 million for the full year, including approximately $110 to $120 million in restructuring and restructuring related cash payments. The company anticipates capital expenditures of $200 to $225 million during the year.

 

A reconciliation of the 2012 earnings outlook is as follows:

 
FY 2012
 
Diluted earnings per share $1.28 to $1.34
 
Restructuring and restructuring-related costs $0.27 to $0.32
 

Certain tax contingencies and other non-cash tax charges associated with the European Transformation Plan

$0.06
 

“Normalized” EPS

$1.63 to $1.69

 

President and Chief Executive Officer Michael Polk will present at the conference today at 9:00 a.m. ET. He will provide an overview of the company’s Growth Game Plan strategy, which is designed to accelerate growth through a sharper focus on the businesses with the greatest right to win and a strengthened set of growth capabilities. Newly appointed Executive Vice President and Chief Financial Officer Doug Martin will also be in attendance.

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