Construction Industry Earnings News
Wednesday, January 31, 2007
A news story from the Baltimore Sun: "Black & Decker Corp. reported yesterday that the housing slump continued to cut into sales and earnings and said more restructuring could be on the way."
"Nolan D. Archibald, Black and Decker's CEO, told analysts during a conference call that the housing slowdown resulted in fewer orders from key retailers, which forced the company to scale back production to keep inventories in check."
"'As we had announced in December, we faced a very difficult market environment in the quarter, resulting in a significant decrease in sales and earnings,' he said."
And news on 3M from MarketWatch: "3M Co. said Tuesday that downturns in the housing and automotive markets chilled fourth-quarter earnings growth, and shares of the blue-chip conglomerate lost more than 5% as its outlook disappointed investors."
"'The dramatic slowdown in the U.S. housing and automotive markets had a significant negative impact on sales and gross margins in a handful of our divisions,' CFO Patrick Campbell said."
"Nolan D. Archibald, Black and Decker's CEO, told analysts during a conference call that the housing slowdown resulted in fewer orders from key retailers, which forced the company to scale back production to keep inventories in check."
"'As we had announced in December, we faced a very difficult market environment in the quarter, resulting in a significant decrease in sales and earnings,' he said."
And news on 3M from MarketWatch: "3M Co. said Tuesday that downturns in the housing and automotive markets chilled fourth-quarter earnings growth, and shares of the blue-chip conglomerate lost more than 5% as its outlook disappointed investors."
"'The dramatic slowdown in the U.S. housing and automotive markets had a significant negative impact on sales and gross margins in a handful of our divisions,' CFO Patrick Campbell said."
Labels: Construction Industry, Construction News
