Last $21.47 USD
Change Today -0.10 / -0.46%
Volume 326.9K
BGC On Other Exchanges
Symbol
Exchange
New York
Berlin
As of 4:03 PM 08/29/14 All times are local (Market data is delayed by at least 15 minutes).

general cable corp (BGC) Snapshot

Open
$21.58
Previous Close
$21.57
Day High
$21.67
Day Low
$21.34
52 Week High
11/4/13 - $34.61
52 Week Low
08/15/14 - $20.78
Market Cap
1.0B
Average Volume 10 Days
510.9K
EPS TTM
$-2.06
Shares Outstanding
48.7M
EX-Date
08/14/14
P/E TM
--
Dividend
$0.72
Dividend Yield
3.35%
Current Stock Chart for GENERAL CABLE CORP (BGC)

general cable corp (BGC) Related Businessweek News

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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 Corporation Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 27, 2014; Provides Earnings Guidance for the Third Quarter of 2014 and Full Year 2014; Reports Asset Impairment Charges for the Second Quarter Ended June 27, 2014

General Cable Corporation reported unaudited consolidated earnings results for the second quarter and six months ended June 27, 2014. For the quarter, the company reported net sales of $1,531.3 million compared to $1,659.1 million a year ago. This decline principally reflects lower shipments of aerial transmission cables and construction products in North America and Latin America as well as the impact of ongoing challenges in Spain and Thailand. Operating income was $14.1 million compared to $70.8 million a year ago. Loss before income taxes was $11.0 million compared to income before income taxes of $26.1 million a year ago. Net loss attributable to company common shareholders was $24.8 million or $0.51 per basic and diluted share compared to net income attributable to company common shareholders of $8.2 million or $0.16 per basic and diluted share a year ago. Adjusted operating income was $57.2 million compared to $64.5 million a year ago. Net debt was $1,256,000,000 at the end of the second quarter, an increase of $104 million from the first quarter. The increase in net debt is principally due to the normal seasonal trends as the company funded higher working capital in the second quarter of 2014. For the six months period, the company reported net sales of $2,961.4 million compared to $3,202.8 million a year ago. Operating loss was $223.0 million compared to operating income of $103.6 million a year ago. Loss before income taxes was $372.0 million compared to $21.8 million a year ago. Net loss attributable to company common shareholders was $340.2 million or $6.96 per basic and diluted share compared to $37.6 million or $0.76 per basic and diluted share a year ago. Adjusted operating income was $80.3 million compared to $105.7 million a year ago. The company reconfirms its outlook for adjusted operating income for 2014 in the range of $200 million to $230 million, which excludes the impact of Venezuela. The company expects to generate $135 million to $165 million of operating cash flow in 2014 with capital spending below depreciation. The revised operating cash flow outlook principally reflects funding higher working capital for 2014. The company expects adjusted operating income to be in the range of $60 million to $75 million for the third quarter of 2014. The company expects these results will include initial benefits of the restructuring program, as well as the continued progress on the company's productivity and asset optimization plans, including its greenfields in Mexico, South Africa and Brazil. Global unit volume is expected to be flat to down low single-digits year-over-year. Adjusted operating income for 2014 is expected to improve year-over-year as the company begins to realize savings from its restructuring program and its productivity and asset optimization plans, as well as the performance of greenfields including Mexico, South Africa and Brazil. The company also expects the impact of the political situation in Thailand to ease somewhat in the latter part of the year. Revenues in the third quarter are expected to be in the range of $1.5 billion to $1.55 billion as volume is anticipated to increase in the low single digit range sequentially. The company anticipates adjusted operating income to be in the range of $60 million to $75 million as the burden of selling higher average cost inventory subsides due to the relatively higher metal price environment. This expected result, at the midpoint, represents an improvement in adjusted operating income for the third quarter of 2014 of 52% as compared to the third quarter of 2013. Adjusted earnings per share are expected to be in the range of $0.35 to $0.55 per share. The third quarter outlook does not include the impact of Venezuela. The company reported asset impairment charge of $2.1 million for the second quarter ended June 27, 2014 compared to nil a year ago.

General Cable Corporation Appoints Ned Hall to Serve as Independent Director

General Cable Corporation announced that its board of directors appointed Mr. Ned Hall to serve as an independent director of the company until he stands for election at the 2015 annual meeting of stockholders and until his successor is duly appointed and qualified. Mr. Hall will serve on the board's nominating and governance committee. The appointment of Mr. Hall fills the vacancy created by Mr. Robert L. Smialek's retirement and reinstates the board's size to seven members. Mr. Hall is executive vice president and chief operating officer of Atlantic Power Corporation and he has served in that position since April 2, 2013.

General Cable Corporation Declares Quarterly Dividend, Payable on September 5, 2014

General Cable Corporation announced that its Board of Directors declared a quarterly dividend of $0.18 per share on all outstanding common shares. The dividend is payable on September 5, 2014, to all common shareholders of record at the close of business on August 18, 2014.

 

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