( NCX) said that a power outage in Ontario on Saturday will result in a second quarter after-tax expense of $20 million to $25 million. The power supply interruption caused an instantaneous shutdown of all its ethylene and polyethylene plants. The stock was unchanged at $35.53.
said it expects sales to increase by 14% for the third quarter, citing strong global growth. The company now forecasts earnings of 92 cents a share, up from it previous outlook of 80 cents to 85 cents. Including the 12-cent charge for an asset sale, the company expects to earn 80 cents a share. Analysts were expecting earnings of 84 cents, according to Thomson First Call. The company also stated earnings for the fourth quarter should be in the range of 90 cents to 95 cents. Analysts are looking for 94 cents a share. The stock was up $1.06, or 2.44%, to $44.57 in after-hours trading.
Packaging Corp. of America
said it earned $12.6 million, or 12 cents a share, for the first quarter ended March 31, compared with a loss of $6.6 million, or 6 cents a share last year. Revenue for the quarter was $489 million. Analysts expected earnings of 12 cents a share on revenue of $468 million. The company said strong earnings were driven by higher pricing and sales volume for both containerboard and corrugated products. Looking forward, packaging Corp. expects to earn 28 cents to 30 cents a share for the second quarter. The stock was unchanged at $22.24.
said it earned $19.9 million, or 25 cents a share, for the first quarter ended March 31, compared with $15.6 million, or 19 cents a year ago. Revenue for the quarter was $455 million. Analysts expected earnings of 24 cents a share on revenue of $443 million, according to Thomson First Call. The stock was up 66 cents, or 3.63%, to $18.82 in after-hours trading.
( ADCT) said that it now expects to earn 3 cents a share on revenue in the range of $292 million to $297 million for the second quarter, up from the previous forecast of 2 cents a share on revenue of $260 million to $270 million. The company also announced that its board has approved a 1-for-7 reverse stock split. Adjusting for the split, the company expects to earn between 18 cents to 20 cents a share, while pro forma earnings will be 22 cents to 24 cents a share. The stock was up 33 cents, or 17.55%, to $2.21 in after-hours trading.