Schweitzer-Mauduit Q4 Profit Rises

(RTTNews) - Schweitzer-Mauduit International Inc. (SWM) reported that its fourth-quarter income rose to $20.2 million or $0.64 per share from $7.2 million or $0.23 per share in the prior year.

Adjusted income was $25.2 million, down 3% from the prior year. Adjusted earnings per share was $0.80, down from $0.87 prior year.

Consolidated sales were $238.5 million, down 4%, or 3% absent negative currency impacts.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.66 per share and revenues of $244.37 million for the quarter. Analysts' estimates typically exclude special items.

For 2020, the company projects adjusted earnings per share to be in the range of $3.50 to $3.75, excluding the financial impact of the pending Tekra and Trient acquisition. The company expects annual earnings per share to be $2.74 to $2.99. Analysts expect annual earnings of $3.41 per share.