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

Finance

Yachting Malta PPP Sets Sail

Yatching Malta Ltd (YML) - a new public private partnership (PPP) between the government and the Royal Malta Yacht Club (RMYC) was formed with the aim of putting Malta on "the global yachting map".

China Cosco's Profit Up 54%

The Shanghai-and-Hong Kong-listed flagship unit of China Ocean Shipping Group, China Cosco Holdings Co Ltd says that its 2014 net profit went up 54 percent y/y at 362.

Taiwan Boosts Yacht Export

Taiwan's yacht industry saw its first double-digit growth in nearly a decade, indicating an inspiring revival led by development and sales of larger leisure boats,

Coast Guard

Coast Guard Academy Cadet to Receive Fulbright Scholarship

Stephen Horvath, a first class cadet at the U.S. Coast Guard Academy, was recently granted a two-year Fulbright Scholarship to study renewable energy technologies

Greek Ferry Runs Aground in the Aegean

A Greek ferry ran aground on the Aegean island of Kassos overnight, the AP is reporting.      None of the 227 passengers and 55 crew were injured and a tug

17 Countries for Maritime Security Training in Indonesia

Representatives from 17 countries would take part in the sixth Maritime Security Desktop Exercise that is scheduled to be held in Yogyakarta, Indonesia from March 30 to April 1.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Navigation Offshore Oil Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction
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: 0.1074 sec (9 req/sec)