logo
Plus   Neg
Share
Email

Meredith Updates 2019 Outlook

Meredith Corp. (MDP) said that it now expects adjusted earnings per share for 2019 to be in the range of $6.92 to $7.07, compared to the prior estimation of $6.89 to $7.31 per share.

Meredith now expects full-year fiscal 2019 earnings from continuing operations to a range of $172 million to $180 million or $2.07 to $2.25 per share, including a net after-tax charge of $32 million for special items in the first nine months. Previously it expected annual earnings from continuing operations to be in the range of $187 million to $207 million, or $2.40 to $2.82 per share, including a net after-tax charge for first half special items of $18 million.

Total company revenues for fiscal 2019 is now expected to be in the range of $3.12 billion to $3.16 billion, compared to its original range of $3.0 billion to $3.2 billion.

Analysts polled by Thomson Reuters expected the company to report earnings of $3.88 per share and revenues of $3.08 billion for 2019. Analysts' estimates typically exclude special items.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Tesla said it will produce ventilators at its Gigafactory in Buffalo, New York to support the city's hospitals amid the coronavirus pandemic. New York is the worst affected state in the U.S. Last Saturday, Musk tweeted that he "had a long engineering discussion with Medtronic about state-of-the-art ventilators. Luxury fashion house Ralph Lauren will donate $10 million to help fight the coronavirus pandemic and manufacture face masks as well as medical gowns in the U.S. The company's charity arm, the Ralph Lauren Corporate Foundation, said in a statement that it is committing $10 million towards the global response to the COVID-19 pandemic. General Motors Co. is delaying work on new vehicle models and is cutting pay for its executives as part of efforts to conserve cash amid the coronavirus or Covid-19 pandemic. The automotive giant also extended the shutdown of North American plants indefinitely. Multiple reports cited an internal memo that salaried workforce will have 20 percent of pay deferred starting April 1.
RELATED NEWS
Follow RTT
>