This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Beam Reports 2013 Fourth Quarter And Full Year Results

Stocks in this article: BEAM

Beam Inc. (NYSE: BEAM), a leading global premium spirits company, today reported results for the fourth quarter and full year 2013.

For the full year 2013, reported net sales increased 4% to a record $2.55 billion. Net sales for the year were up 2% on a comparable basis, which adjusts for foreign exchange and acquisitions/divestitures. A challenging year-over-year comparison in India adversely impacted full-year comparable sales by approximately one point. Beam’s full-year sales benefited from market outperformance in North America and Europe/Middle East/Africa, partly offset by lower sales in Asia Pacific/South America. New products and positive price/mix enhanced the company’s top-line growth.

On a reported basis (GAAP), full-year diluted earnings per share from continuing operations were $2.24 versus $2.51 in 2012. Full-year results were impacted by a net charge of 39 cents per share related to items including early extinguishment of debt and a fourth-quarter non-cash impairment of a tradename in Spain.

Full-year diluted EPS before charges/gains was $2.63, up 10%, exceeding the company’s 2013 target for high-single-digit growth. Earnings benefited from sales growth, operating margin improvement and lower interest expense. The company generated free cash flow of $332 million in 2013, exceeding the high end of its target range.

For the fourth quarter, reported net sales increased 4% and net sales were up 5% on a comparable basis. Comparable fourth quarter sales growth benefited from strong demand for the company’s premium whiskey and tequila brands, successful new-product innovations, and an approximate one point benefit from a return to growth in India. Comparable sales in the quarter reflected market outperformance in North America and Europe, which more than offset continued softness in the Australia market.

Diluted EPS from continuing operations for the quarter was down 29% on a reported basis. Diluted EPS before charges/gains for the quarter was $0.77, up 15%.

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,672.60 -141.38 -0.79%
S&P 500 2,051.82 -11.33 -0.55%
NASDAQ 4,757.8790 +7.4820 0.16%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs