A. Schulman Q2 Results Miss Estimates

(RTTNews) - A. Schulman Inc (SHLM), a supplier of plastic compounds and resins, on Monday reported second-quarter net loss of $0.9 million or $0.03 per share compared with a profit of $6.9 million or $0.23 per share last year.

Excluding restructuring charges and other one-time items, adjusted earnings for the quarter were $0.39 per share.

Revenues for the quarter were $542.3 million compared with $588.5 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.40 per share on revenues of $579.4 million for the quarter. Analysts' estimates typically exclude special items.

Foreign currency translation negatively impacted sales by $59.7 million in the quarter, the company said.

Among regions, EMEA sales in the quarter were hurt by foreign currency translation and lower sales prices as a result of declining raw material prices. Meanwhile sales in the U.S. and Canada climbed 22.8 percent.

In March, Schulman slashed its adjusted earnings guidance for fiscal year 2015 to a range of $2.50 to $2.55 per share from prior guidance of $2.60 to $2.65 per share, citing the impact of the continuing steep decline of the euro and other foreign currencies. Analysts are expecting earnings of $2.48 per share for 2015.

SHLM closed Monday at $48.40, up $0.25 or 0.52%, on the Nasdaq. In after hours, the stock dropped $1.80 or 3.72% at $46.60.