Valspar Sees FY16 Adj. EPS Below View - Quick Facts

(RTTNews) - Valspar Corp. (VAL) said that it expect fiscal 2016 sales to increase in the mid-single digits and adjusted earnings per share growth of 8 to 13 percent, excluding the impact of foreign currency.

The company provided initial guidance for fiscal 2016, which includes sales growth in the "mid-single digits" in constant currency (sales including the estimated impact of foreign currency translation expected to be "up slightly" compared to fiscal 2015).

The company expects annual Fiscal 2016 adjusted earnings per share of $4.80 to $5.00. This guidance range includes a 20 cent unfavorable impact from foreign currency translation. Annual Fiscal 2016 adjusted earnings per share guidance reflects growth of 8% to 13% in constant currency.

Analysts polled by Thomson Reuters expect the company to report earnings of $5.09 per share and revenues of $4.62 billion for fiscal year 2016. Analysts' estimates typically exclude special items.