General Cable Issues Q1 Guidance

(RTTNews) - General Cable Corporation (BGC) announced the company expects revenues in the first quarter to be in the range of $825 to $875 million. Unit volume is anticipated to be flat to up low single-digits sequentially. Adjusted operating income is anticipated to be in the range of $18 to $33 million for the first quarter, inclusive of approximately $8 million of unfavorable metals impact. Adjusted earnings per share are expected to be in the range of a loss of $0.05 to profit of $0.15 per share for the first quarter.

"In the first quarter, we expect sequentially stable-to-improved volumes and further benefits from restructuring and business improvement initiatives, partially offset by unfavorable metal price impact and significantly easing performance of our submarine turnkey business. Visibility is low, but we are encouraged by the resilience in our utility, non-residential construction and communications end markets, even while industrial and oil and gas end markets may soften further. It is a challenging environment, but I am excited that we now have a strategic roadmap, and we are relentlessly focused on execution," McDonnell said.