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Last $46.11 USD
Change Today +0.60 / 1.32%
Volume 94.7K
SWM On Other Exchanges
Symbol
Exchange
New York
As of 8:04 PM 03/30/15 All times are local (Market data is delayed by at least 15 minutes).

schweitzer-mauduit intl inc (SWM) Key Developments

Schweitzer-Mauduit International, Inc. Announces Management Changes

Schweitzer-Mauduit International Inc. announced that Jeffrey A. Cook, the company's Executive Vice President, Chief Financial Officer and Treasurer, will retire from the company effective April 3, 2015. In the interim, Bob Cardin, the company's Controller, will assume the role of acting Chief Financial Officer and report to Frederic Villoutreix, the company's Chief Executive Officer. In addition, Stephen Dunmead, the company's Chief Operating Officer, will resign from the company to pursue other opportunities effective April 15, 2015.

Schweitzer-Mauduit International Inc. Declares Quarterly Cash Dividend, Payable on March 19, 2015

Schweitzer-Mauduit International Inc. announced that a quarterly cash dividend of $0.38 per share will be payable on March 19, 2015 to stockholders of record on February 27, 2015.

Schweitzer-Mauduit International, Inc Reports Unaudited Consolidated Financial Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Earnings Guidance for the Year 2015

Schweitzer-Mauduit International Inc. reported unaudited consolidated financial results for the fourth quarter and full year ended December 31, 2014. For the quarter, net sales were $181.7 million versus $196.5 million in the prior year quarter, down 7.5%. Operating profit from continuing operations was $17.3 million versus an operating loss from continuing operations of $0.7 million in the prior year quarter, which included a $37.2 million asset impairment. Adjusted operating profit from continuing operations was $25.7 million versus $38.8 million in the prior year quarter. Net income from continuing operations per diluted share was $0.61 versus a net income from continuing operations per diluted share of $0.35 in the prior year quarter. Adjusted diluted earnings per share from continuing operations was $0.77 in the fourth quarter of 2014, down from $0.91 in the prior year period. The adjusted diluted EPS from continuing operations excludes restructuring expenses, purchase accounting adjustments related to the DelStar acquisition, start-up expenses related to CTS, and certain other expenses. Net income from continuing operations was $18.4 million versus a net loss from continuing operations of $11.2 million in the prior year quarter. For the full year, net sales were $794.3 million compared with $772.8 million in the prior year, up 2.8%. Operating profit from continuing operations was $106.1 million compared with $124.9 million during the prior year. Adjusted operating profit from continuing operations was $126.8 million versus $167.3 million in 2013. The company was impacted in 2014 by the combined effects of lower LIP pricing, unfavorable product mix, lower tobacco related paper and RTL sales volumes, and higher corporate costs mainly relating to its global asset realignment initiative. These factors were partially offset by additional earnings as a result of the DelStar acquisition. Income from continuing operations per diluted share was $2.93 versus $2.49 in the prior year. Full year 2014 adjusted diluted earnings per share from continuing operations was $3.46, versus $3.82 in 2013. Net income from continuing operations was $89.7 million versus $78.5 million in 2013. Cash provided by operating activities of continuing operations was $166.4 million compared with $175.8 million in 2013. Capital spending was $35.1 million during 2014, comprised of maintenance, the rebuild of certain paper manufacturing lines, and the addition of manufacturing capacity for DelStar, both within its existing facilities as well as the new site in Poland. The company provided earnings guidance for the year 2015. The company issued annual guidance of $3.50 for 2015 adjusted diluted earnings per share from continuing operations. Excluded from guidance are non-cash amortization expenses associated with intangible assets and non-cash inventory step-up charges associated with the filtration segment, restructuring and impairment expenses, and potential transaction costs associated with future acquisitions. For 2015, the company expects a tax rate in the low-20% range and capital spending of approximately $30 million to $35 million.

Schweitzer-Mauduit International Seeks Acquisitions

Schweitzer-Mauduit International Inc. (NYSE:SWM) is seeking acquisitions. Frederic Villoutreix, Chairman of the Board and Chief Executive Officer, said "We remain committed to efficiently managing our tobacco operations, maintaining a balanced approach to capital allocation, and pursuing our diversification efforts both organically and through acquisitions. While pleased with the strategic fit and value of our two acquisitions, we intend to accelerate our efforts to execute on more substantive acquisitions in not only the Filtration segment, but also ones that may be synergistic with our focus on Advanced Fibers and Materials."

Schweitzer-Mauduit International Inc. to Report Q4, 2014 Results on Feb 11, 2015

Schweitzer-Mauduit International Inc. announced that they will report Q4, 2014 results After-Market on Feb 11, 2015

 

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Industry Analysis

SWM

Industry Average

Valuation SWM Industry Range
Price/Earnings 15.5x
Price/Sales 1.7x
Price/Book 2.8x
Price/Cash Flow 15.5x
TEV/Sales 0.8x
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