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Last $39.90 USD
Change Today -0.74 / -1.82%
Volume 66.2K
LBY On Other Exchanges
Symbol
Exchange
Frankfurt
NYSE Amex
As of 8:04 PM 05/26/15 All times are local (Market data is delayed by at least 15 minutes).

libbey inc (LBY) Key Developments

Libbey Inc. Declares Quarterly Cash Dividend, Payable on June 9, 2015

Libbey Inc. announced that its board of directors declared the company's quarterly cash dividend of $0.11 per share. The dividend will be paid on June 9, 2015, to shareholders of record as of May 26, 2015.

Libbey Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Reiterates Earnings Guidance for the Year 2015

Libbey Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company’s net sales were $187.4 million, compared to $181.6 million for the first quarter of 2014, an increase of 3.2%. Net income was $3.1 million, compared to a net loss of $3.4 million in the prior-year first quarter. Adjusted net income was $3.6 million, compared to the $2.5 million adjusted net income recorded in the first quarter of 2014. Adjusted earnings before interest, taxes, depreciation and amortization for the quarter were $19.7 million, compared to $20.0 million in the prior-year quarter. The primary factors contributing to the change in adjusted EBITDA were the improved gross profit by higher SG&A expenses, as previously discussed, and was in line with its expectations. Income from operations was $8,096,000 compared to $3,461,000 a year ago. Earnings before interest and income taxes were $8,923,000 compared to $3,139,000 a year ago. Basic and diluted earnings per share were $0.14 compared to basic and diluted loss per share of $0.16 a year ago. Net cash used in operating activities was $13,236,000 compared to $10,373,000 a year ago. Additions to property, plant and equipment was $16,659,000 compared to $9,901,000 a year ago. EBITDA was $19,107,000 against $13,815,000 a year ago. Capital expenditures were $16,659,000 compared to $9,901,000 a year ago. This increase is primarily the result of increased investments in new glass technologies, which are expected to continue into the second quarter. The company reiterates expectations to generate sales growth of approximately 5% to 6% on a constant currency basis, and adjusted EBITDA margins of approximately 15% in fiscal year 2015, as the company executes its growth strategy while investing in its commercial brands and capabilities. The company expects CapEx of $55 million to $60 million, which includes $16 million to $17 million related to investments in new glass technology. The company continues to expect strong free cash flow performance for full-year 2015, driven in part by price increases across foodservice businesses that were implemented in late march and early April. The company expects depreciation and amortization for the full year 2015 to be between $40 million and $42 million. Cash interest should be in the range of $15 million to $17 million. And as far as cash taxes for 2015, it currently believe they will be around $5 million to $7 million compared to $7.2 million in 2014. With expected free cash flow of approximately $50 million to $60 million per year in each of the next 3 years or $150 million to $180 million cumulatively.

Libbey Inc. Announces Exclusive Distribution Agreement with Spiegelau

Libbey Inc. and Spiegelau have announced an agreement in which Libbey will become the exclusive U.S. distributor of their glassware lines in the retail industry, effective July 1, 2015. The newly formed agreement is part of the brand's 'Own the Moment' strategy, which aims to grow the business 4-6% annually to achieve a year-end 2018 revenue target in excess of $1 billion. In July Libbey will begin offering a full array of Spiegelau barware items to retail outlets including the popular wine collections such as Authentis, Style, Willsberger and Vino Grande stemware, as well as craft beer glassware, including Wheat, a brand new offering for 2015.

Libbey Inc. to Report Q1, 2015 Results on Apr 30, 2015

Libbey Inc. announced that they will report Q1, 2015 results on Apr 30, 2015

Libbey Inc., Q1 2015 Earnings Call, Apr 30, 2015

Libbey Inc., Q1 2015 Earnings Call, Apr 30, 2015

 

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LBY

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Valuation LBY Industry Range
Price/Earnings 79.4x
Price/Sales 1.0x
Price/Book 13.5x
Price/Cash Flow 77.5x
TEV/Sales 0.5x
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