Last $13.95 USD
Change Today +0.48 / 3.56%
Volume 696.6K
BGC On Other Exchanges
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As of 8:04 PM 10/23/14 All times are local (Market data is delayed by at least 15 minutes).

general cable corp (BGC) Snapshot

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11/4/13 - $34.61
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general cable corp (BGC) Details

General Cable Corporation designs, develops, manufactures, markets, and distributes copper, aluminum, and fiber optic wire and cable products for the energy, industrial, construction, specialty, and communications markets worldwide. The company offers electric utility products, such as low- and medium-voltage distribution cables; high- and extra-high voltage power transmission cable products; bare overhead conductors; and submarine transmission and distribution cables, as well as provides design, integration, and installation services for products, such as high and extra-high voltage terrestrial and submarine systems. It also offers electrical infrastructure products, including rubber and plastic jacketed wires and cables, low- and medium-voltage industrial power cables, ignition wire sets, and cable wire harnesses, as well as rail and mass transit, shipboard, oil and gas, armored mining, and alternative energy power generation cables. In addition, the company provides communications products comprising high-bandwidth twisted copper and fiber optic, multi conductor and pair fiber and copper networking, telecommunications exchange, coaxial, and low detection profile cables, as well as fiber-optic submarine cable systems, submarine networks, and offshore integration systems. Further, it offers construction products consisting of construction, flexible cords, and flame retardant cables, as well as rod mill products, including copper and aluminum rods. The company sells its products directly to utilities, independent distributors, retailers, contractors, and original equipment manufacturers. General Cable Corporation was founded in 1992 and is headquartered in Highland Heights, Kentucky.

15,000 Employees
Last Reported Date: 06/18/14
Founded in 1992

general cable corp (BGC) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $900.0K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $440.0K
Executive Vice President, Chief Executive Off...
Total Annual Compensation: $442.7K
Compensation as of Fiscal Year 2013.

general cable corp (BGC) Key Developments

General Cable Corp. Amends and Restates Credit Agreement

General Cable Corporation and certain of its U.S., Canadian and European subsidiaries amended the company’s existing asset-based revolving credit facility and entered into amendment No. 3 to amended and restated credit agreement and Limited Waiver No. 1 (Amendment No. 3) by and among the company’s principal U.S. operating subsidiary General Cable Industries Inc., General Cable Company Ltd., Silec Cable SAS, Norddeutsche Seekabelwerke GmbH, Grupo General Cable Sistemas, S.L., ECN Cable Group, S.L., the company and those certain other subsidiaries of the company party thereto as guarantors, the several lenders and financial institutions party thereto and JPMorgan Chase Bank, N.A., as administrative agent. The principal purposes of amendment No. 3 are to: increase the maximum availability under the swingline loan available to the European Borrowers from $25,000,000 to $50,000,000, modify a representation and warranty to make reference to the matters concerning Angola described and waive any defaults or events of default that existed prior to the date of amendment No. 3 with respect to any breaches of certain representations and warranties and covenants as a result of such matters; and make a technical change to the covenant regarding restrictive agreements to permit customary covenants in any future debt instruments of the company, subject to conditions.

General Cable Corp. Updates Earnings Guidance for the Third Quarter and Full Year of 2014

General Cable Corp. updated earnings guidance for the third quarter and full year of 2014. For the quarter, adjusted operating income expected to be at or around the low end of the range of $60 to $75 million. For the full year, adjusted operating income are expected to be at or around the low end of management's previously communicated range of $200 million to $230 million. Adjusted operating cash flow for the full year is expected to trend toward the low end of management's guidance range of $135 million due principally to the lower cash earnings expected over the second half of the year. Given the demand factors discussed and, to a lesser extent, the lower copper price environment, the company anticipates reporting adjusted operating income for 2014 at or around the low end of its previously communicated range of $200 to $230 million. The current full year outlook now assumes copper (COMEX) and aluminum (LME) prices of $3.09 and $0.88, respectively. The company's outlook for the third quarter and full year 2014 excludes the impact of Venezuela. The business in Venezuela is expected to generate $0 to $10 million of pre-tax income for the full year.

General Cable to Raise $250 Million in Private Offering of Notes

General Cable Corporation is planning to offer $250 million aggregate principal amount of senior notes due 2019 in a private offering. In connection with the offering of the notes, General Cable will agree, subject to certain conditions, to file a registration statement relating to a registered offer to exchange the notes for new registered notes having substantially identical terms as the notes.


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