Libbey Shares Slip

Libbey shares dropped to a new five-year low Tuesday morning after the manufacturer of glass tableware products reported Q4 net loss of $0.10 per share, compared to $1.45 earnings per share in the prior year period. Capital IQ provided a Street estimate of $0.28 earnings per share.

Total revenues were $206.6 million, down from $220 million reported for the same period last year and came in lower than the $220 million estimate.

For 2017, the company expects net sales to be slightly down on a reported basis. Capital expenditures are expected to range from $50 million to $55 million. Shares were 14% lower in recent morning trade, within a new 52-week range of $13.05 – $21.00.

By Stephen Holmes