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Last $43.83 USD
Change Today -0.30 / -0.68%
Volume 97.0K
SHLM On Other Exchanges
Symbol
Exchange
Berlin
NASDAQ GS
As of 8:10 PM 05/22/15 All times are local (Market data is delayed by at least 15 minutes).

schulman (a.) inc (SHLM) Key Developments

A. Schulman, Inc. Commences Senior Notes Offering

A. Schulman, Inc. announced that it intends to offer to sell, subject to market and other conditions, $375 million aggregate principal amount of senior notes due 2023 in an offering that is exempt from the registration requirements of the Securities Act of 1933. The Notes will be jointly and severally and fully and unconditionally guaranteed on a senior basis by certain of the company's domestic subsidiaries. The company intends to use the net proceeds from the Notes offering to finance a portion of the cash consideration to be paid in its proposed acquisition of HGGC Citadel Plastics Holdings, Inc. to refinance certain existing debt and for general corporate purposes, including fees and expenses related to the Acquisition.

A. Schulman to Move European Shared Service Center to Poland

A. Schulman, Inc. announced plans to move its EMEA shared service center to Poznan, Poland from Londerzeel, Belgium. Plans call for this phased relocation to be completed by May 2016. The company anticipates the cost of this action to be approximately €7 million over the next 12 months and is expected to generate annual savings of approximately €5 million by fiscal 2017, when fully implemented.

A Schulman Expands Europe Polyethylene Terephthalate Masterbatch Compounding Capacity

A Schulman announced on that it has added a new production line to its Bornam masterbatch plant in Belgium. The expansion of the company's existing polyethylene terephthalate compounding capacity is expected to significantly increase yearly production capacity. Commercialized under the name of PolyPet, the added PET product is intended to meet a growing demand for customised food packaging. In the first phase, the new production line will be dedicated primarily to the production of additive concentrates and white PET masterbatch.

A. Schulman, Inc. to Establish Masterbatch Production Plant in Turkey

A. Schulman, Inc. announced plans to establish a new Masterbatch production plant in Turkey. This new facility will produce, when fully operational, approximately 40 million pounds of the company's premium additive, white, and breathable masterbatches for food and industrial packaging customers in Turkey and other fast-growing countries in the Middle East and North Africa. The company plans to lease existing industrial facilities in the greater Istanbul area, which it will convert into a production plant at a cost projected to be in the €5 million to €7 million range. This new facility is expected to be in production by the end of fiscal 2016.

A. Schulman, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended February 28, 2015; Reaffirms Earnings Guidance for the Fiscal Year 2015

A. Schulman, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended February 28, 2015. For the quarter, the company’s net sales were $542.3 million against $588.51 million a year ago. Foreign currency translation negatively impacted net sales by $59.7 million. Operating income was $5.32 million against $13.8 million a year ago. Income from continuing operations before taxes was $3.5 million against $10.1 million a year ago. Loss from continuing operations was $0.503 million or $0.03 per basic and diluted share against income of $6.65 million or $0.22 per diluted share a year ago. Net loss attributable to A. Schulman, Inc. was $0.9 million or $0.03 per basic and diluted share against income of $6.9 million or $0.23 per diluted share a year ago. Adjusted operating income was $18.900 million against $19.3 million a year ago. Adjusted net income attributable to A. Schulman, Inc. was $11.5 million or $0.39 per diluted share against $11.3 million or $0.39 per diluted share a year ago. Capital expenditures for the quarter were $21.2 million, compared with $16.5 million for the prior-year quarter. These expenditures were primarily related to the regular and ongoing investment in the company's global manufacturing facilities and technical innovation and collaboration centers. Currency impacted second quarter results by $0.07 per diluted share compared with the prior year quarter. For the six months, the company’s net sales were $1,157.35 million against $1,173.91 million a year ago. Operating income was $26.4 million against $33.7 million a year ago. Incremental net sales for the six months from the Company's recent acquisitions contributed $95.9 million. Income from continuing operations before taxes was $21.342 million against $27.3 million a year ago. Income from continuing operations was $12.9 million or $0.42 per basic and diluted share against $19.3 million or $0.65 per basic and diluted share a year ago. Net income attributable to A. Schulman, Inc. was $12.3 million or $0.42 per basic and diluted share against $21.930 million or $0.75 per diluted share a year ago. Net cash provided from operating activities was $1.1 million against net cash used in operating activities was $8.7 million a year ago. Expenditures for property, plant and equipment was $21.24 million against $16.541 million a year ago. Adjusted operating income was $46.951 million against $43.749 million a year ago. Adjusted net income attributable to A. Schulman, Inc. was $29.93 million or $1.01 per diluted share against $28.002 million or $0.96 per diluted share a year ago. The company maintains previously revised full-year fiscal 2015 adjusted net income guidance to a range of $2.50 to $2.55 per diluted share, which does not include the impact of the previously announced acquisition of Citadel Plastics, which is expected to close on track in the third quarter of fiscal 2015.

 

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SHLM

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Valuation SHLM Industry Range
Price/Earnings 27.9x
Price/Sales 0.5x
Price/Book 2.7x
Price/Cash Flow 27.6x
TEV/Sales 0.3x
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