ACL Lowers Earnings Guidance, Approves a $200m Stock Buyback Program

Tuesday, June 12, 2007
American Commercial Lines Inc. (ACL) announced that it is lowering its earnings guidance for the year ending December 31, 2007 to $1.45 to $1.65 in earnings per share for 2007 versus the current street consensus of $1.84. The Company’s previous guidance for 2007 was $1.75 to $1.95. The lowered guidance is driven primarily by the further weakness in the spot grain markets over first quarter levels and lower than planned productivity levels in the manufacturing segment during the second quarter.

Additionally, the company announced that its Board of Directors has approved a stock repurchase program of up to $200 million.

The company also announced that it will conduct a conference call to review and discuss its second quarter financial results on July 26, 2007, at 10:00 a.m. eastern daylight time. ACL is scheduled to release its financial results for the quarter on Wednesday, July 25, 2007 after the close of the financial markets.

Maritime Reporter February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Port of Rotterdam 2014 Profit Dips

The Port of Rotterdam Authority said on Thursday its net profit for 2014 fell 4.9 percent to 215 million euros ($237 million) on higher financing costs. Europe's

UK Will Force Fridman to sell N.Sea Assets

Britain is ready to force the sale of Russian oligarch Mikhail Fridman's recently acquired North Sea energy assets unless it receives unspecified assurances within the next week,

General Dynamics Board Increases Dividend

The board of directors of General Dynamics today declared a regular quarterly dividend of 69 cents per share on the company's common stock, payable May 8, 2015,

Coast Guard

USCG Monitors Cargo Vessel Near Welch island Ore.

The Coast Guard is monitoring a vessel that lost propulsion and briefly grounded in the vicinity of Welch Island, Wednesday. The crew of the 738-foot bulk

Coastal Interceptors for Kuwait Coast Guard

Following an extensive evaluation protocol, the Kuwaiti Ministry of the interior has placed an order with Tampa Yacht Manufacturing LLC based in Florida – U.

Cargo Vessel Grounded on Scottish Coast Towed Today

The towing of the DFDS cargo vessel Lysblink Seaways began today at 1:00pm local time, the UK's Maritime Coast Guard Agency announced.   The vessel ran aground

 
 
Maritime Careers / Shipboard Positions Maritime Security Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Repair Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.4274 sec (2 req/sec)