Valspar (VAL) To Feature New Coatings Colors At AIA

The Valspar Corporation (NYSE:VAL) declared that it will showcase the new colors of its Fluropon Effects Rustica coatings, the green innovation of Fluropon Pure architectural coatings, and share information about several continuing education courses at the annual American Institute of Architects (AIA) National Convention and Expo. This will be held from May 19–21, at the Pennsylvania Convention Center in Philadelphia.

Fluropon Effects Rustica coatings feature richer, more saturated colors with a weathered, antique aesthetic. Fluropon Pure coatings help commercial building projects in achieving the U.S. Green Building Council's LEED version 4 certification and comply with the Living Building Challenge's Declare program.

Both Fluropon Effects and Fluropon Pure coatings are available for coil and extrusion applications, and deliver the industry-leading performance expected of Valspar's trusted family of Fluropon 70% PVDF resin-based coatings.

Valspar saw its profits tumble roughly 47.6% to 65 cents per share in first-quarter fiscal 2016 (ended Jan 29, 2016) from $1.24 in the prior-year quarter.

Adjusted earnings (barring non-recurring items) came in at 66 cents per share in the fiscal first quarter, down from 85 cents recorded a year ago. Earnings also missed the Zacks Consensus Estimate of 68 cents.

Revenues fell roughly 12.7% year over year to $885.8 million in the reported quarter. Foreign currency translation unfavorably impacted net sales by 6%, while acquisitions added 3%. Sales lagged the Zacks Consensus Estimate of $919 million.

Valspar, which is one of the prominent paint makers, along with Akzo Nobel (OTC:AKZOY) , PPG Industries (NYSE:PPG) and Sherwin-Williams (NYSE:SHW) , reiterated its guidance for fiscal 2016 in Feb 2016. The company projects sales growth in the mid-single digits in constant currency. Reported sales, including the estimated foreign currency impact, are expected to rise modestly from the fiscal 2015 level. Adjusted earnings per share are projected in the band of $4.80–$5.00.

Valspar will release its fiscal second-quarter results on May 24. The company currently carries a Zacks Rank #4 (Sell).