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Last $13.71 USD
Change Today -0.84 / -5.77%
Volume 583.6K
As of 4:15 PM 09/1/15 All times are local (Market data is delayed by at least 15 minutes).

general cable corp (BGC) Snapshot

Open
$14.21
Previous Close
$14.55
Day High
$14.63
Day Low
$13.61
52 Week High
09/3/14 - $22.10
52 Week Low
02/2/15 - $10.70
Market Cap
670.7M
Average Volume 10 Days
461.8K
EPS TTM
$1.70
Shares Outstanding
48.9M
EX-Date
08/13/15
P/E TM
8.1x
Dividend
$0.72
Dividend Yield
5.25%
Current Stock Chart for GENERAL CABLE CORP (BGC)

general cable corp (BGC) Related Businessweek News

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general cable corp (BGC) Details

General Cable Corporation designs, develops, manufactures, markets, and distributes copper, aluminum, and fiber optic wire and cable products for the energy, industrial, construction, and specialty and communications markets worldwide. The company offers electric utility products, such as low- and medium-voltage distribution cables; high- and extra-high voltage power transmission cables; bare overhead conductors; and submarine transmission and distribution cables. It also offers electrical infrastructure products, including rubber-and plastic-jacketed wires and cables, low- and medium-voltage industrial power cables, ignition wire sets, and cable wire harnesses, as well as rail and mass transit, shipboard, oil and gas, armored mining, and alternative energy power generation cables. In addition, the company provides communications products comprising high-bandwidth twisted copper and fiber optic, multi conductor and pair fiber and copper networking, telecommunications exchange, coaxial, and low detection profile cables, as well as fiber-optic submarine cable systems, submarine networks, and offshore integration systems. Further, it offers construction products consisting of construction cables, flexible cords, and flame retardant cables, as well as rod mill products, including copper and aluminum rods. Additionally, the company provides design, integration, and installation services for products, such as high and extra-high voltage terrestrial and submarine systems. General Cable Corporation sells its products directly to utilities, independent distributors, retailers, contractors, and original equipment manufacturers. The company was founded in 1992 and is headquartered in Highland Heights, Kentucky.

13,000 Employees
Last Reported Date: 03/2/15
Founded in 1992

general cable corp (BGC) Top Compensated Officers

Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $480.0K
Executive Vice President, Chief Executive Off...
Total Annual Compensation: $476.5K
Executive Vice President and Chief Executive ...
Total Annual Compensation: $283.5K
Advisor
Total Annual Compensation: $900.0K
Compensation as of Fiscal Year 2014.

general cable corp (BGC) Key Developments

General Cable Corporation Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended July 3, 2015; Provides Financial Guidance for the Third Quarter of 2015; Reports Impairment Charges for the Second Quarter Ended July 3, 2015

General Cable Corporation reported unaudited consolidated earnings results for the second quarter and six months ended July 3, 2015. Adjusted operating income and adjusted EPS for the second quarter were at the upper end of its guidance range, and the company continues to tightly manage working capital. Adjusted operating income in the second quarter and for the first half of the year were up year-over-year, principally driven by the restructuring savings of $8 million and $16 million, respectively, strong project execution in the land and submarine turnkey businesses in Europe, performance improvement in the electric utility and communication businesses in North America and strong operational execution throughout Latin America. Net sales on a metal-adjusted basis for the second quarter were down 2% year-over-year, excluding foreign currency exchange rate movements of $135 million and 5% sequentially. Adjusted operating income of $55 million reflects restructuring savings of $8 million and the consistent execution of the submarine turnkey project business in Europe as well as the electric utility and communication businesses in North America. For the quarter, the company reported net sales of $1,113.4 million compared to $1,387.3 million a year ago. Operating income was $23.7 million compared to $22.8 million a year ago. Loss before income taxes was $7.1 million compared to $2.3 million a year ago. Net loss from continuing operations was $1.6 million against $13.7 million a year ago. Net loss attributable to company common shareholders was $6.9 million or $0.03 per basic and diluted share compared to $24.8 million or $0.28 per basic and diluted share a year ago. For the quarter, the company generated adjusted earnings per share from continuing operations of $0.36 and adjusted operating income from continuing operations of $55 million. Through the first half of 2015, the company has generated $103 million of adjusted operating income, which was up approximately 50% year-over-year and 20% versus the second half of 2014. Net debt of $1,093 million was down $126 million from the end of 2014 due to the continued tight management of working capital which generated $75 million of cash in the core operations and the use of cash proceeds generated from divestitures. For the six months, the company reported net sales of $2,284.5 million compared to $2,688.8 million a year ago. Operating income was $39.9 million compared to operating loss of $133.8 million a year ago. Loss before income taxes was $40.6 million compared to $281.0 million a year ago. Net loss from continuing operations was $36.3 million against $276.1 million a year ago. Net loss attributable to company common shareholders was $45.0 million or $0.72 per basic and diluted share compared to $340.2 million or $5.56 per basic and diluted share a year ago. Adjusted operating income from continuing operations for the first half of 2015 was $103 million, up approximately 50% year over year and 20% sequentially. With respect to the third quarter, operating results are expected to be impacted by lower metal prices and lower project activity in the submarine turnkey business. These trends are anticipated to be partially offset by restructuring savings in the range of $8 million to $10 million. The company is on track to realize annual savings from restructuring actions in the range of $30 million to $40 million in 2015. Overall, volume sequentially is expected to be flat as lower seasonal demand in Europe is expected to be offset by shipment of transmission cables in Brazil. Revenues in the third quarter are expected to be in the range of $0.975 to $1.025 billion. Adjusted operating income is anticipated to be in the range of $25 to $40 million for the third quarter which assumes a metal cost impact of $15 - $20 million as well as the impact of lower activity in the company’s submarine turnkey project business in Europe. Adjusted earnings per share are expected to be in the range of $0.02 to $0.22 per share for the third quarter. The company reported asset impairment charge of $1.7 million for the second quarter ended July 3, 2015 compared to 2.1 a year ago.

General Cable Corporation Declares Quarterly Dividend on Common Shares, Payable on September 4, 2015

General Cable Corporation announced that its Board of Directors declared a quarterly dividend of $0.18 per share on all outstanding common shares. The dividend is payable on September 4, 2015, to all common shareholders of record at the close of business on August 17, 2015.

General Cable Corporation to Report Q2, 2015 Results on Aug 05, 2015

General Cable Corporation announced that they will report Q2, 2015 results at 5:00 PM, Eastern Standard Time on Aug 05, 2015

 

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Industry Analysis

BGC

Industry Average

Valuation BGC Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 0.1x
Price/Book 2.1x
Price/Cash Flow NM Not Meaningful
TEV/Sales NM Not Meaningful
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