On Tuesday Neenah (NYSE:NP) stock traded volume of 101359 shares during its last trading session as compared to its average volume of 72038 shares over the recent month. NP ended its day with the up stream along the move of 2.28% and closed at the price of $67.37 before opening at $66.04. It has total market capitalization is $1135925616. 52 week range of the stock remained $ 56.67 – 83.82 while its day lowest price was $66 and its hit its day highest price at $68.81
On Nov. 5, 2019, Neenah (NYSE:NP) revealed third quarter 2019 results.
Third Quarter Highlights
- Net sales of $231.8 million decreased 10 percent compared with $256.2 million in the prior year. On a constant currency basis and excluding the impact of the December 2018 sale of the Brattleboro mill, net sales were down 6 percent.
- GAAP earnings per diluted common share (E.P.S.) of $0.84 compared with earnings of $0.75 per share in 2018.
- On an adjusted basis, 2019 quarterly E.P.S. of $0.95 increased from $0.76 in the prior year period. Adjusting items in 2019 consisted primarily of accelerated depreciation and other costs related to the idling of a fine paper machine. Adjusted E.P.S. is a non-GAAP measure used to enhance understanding and comparability of year-on-year results. Details on adjusting items and a reconciliation to comparable GAAP measures are included later in this release.
- Cash generated from operations of $33.4 million increased from $23.9 million in the third quarter of 2018. Cash flows in 2019 were used to reduce debt in the quarter by $19.1 million.
- Quarterly cash dividends paid of $0.45 per share increased 10 percent from $0.41 per share in the prior year.
We continued to improve operating margins and delivered increased profits in the quarter through our actions to manage costs and pricing as input costs began to moderate from year-ago levels. Combined, these items more than offset impacts from volume challenges that reflected weaker market conditions, said John O’Donnell, Chief Executive Officer. Our teams remain focused on optimizing cash flows, ensuring our solid financial position and strong balance sheet. This strategy provides Neenah with both the strength to weather a less certain global economic environment, and the ability to act prudently on value-adding investment opportunities.
Julia Brown is a Master’s in Business Administration by education. After completing her post-graduation, Julia jumped the journalism bandwagon as a freelance journalist. Soon after that she landed a job of reporter and has been climbing the news industry ladder ever since to reach the post of editor. As an avid day trader, Julia is a master of technical analysis and writes tirelessly on how stocks are trading. She has extensive knowledge in technical analysis & Finance writing.
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