General Cable's Turnaround Won't Be Quick Or Easy
Tue, Aug. 30, 9:42 AM
- General Cable (BGC +0.8%) announces that Leah Stark was named Chief Human Resources Officer in July of this year.
- "Key to our cultural transformation and the achievement of our business objectives is having a world-class, global Chief Human Resources Officer," said CEO Michael McDonnell.
- Stark has over 17 years of progressive HR experience, spending the most recent 10 years with Whirlpool Corp.
Thu, Aug. 18, 11:33 AM
Wed, Aug. 3, 4:24 PM
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Tue, May 31, 9:04 AM
Mon, May 23, 6:44 PM
- General Cable (BGC +2.3%) has a definitive deal to sell its ignition-wire business in North America to Standard Motor Products (SMP -2.3%), for about $71M.
- The cable-products maker will use proceeds to reduce debt.
- It's been a strong business, says CEO Mike McDonnell, but it's "not aligned with our strategic and financial criteria going forward. As previously communicated, we are focused on growing our businesses in the electric utility, communications and industrial markets where we have leading positions, scale and sustainable profitability.”
- At last report, General Cable's total debt sat at $1.15B with a debt/equity of 410%. Market cap is $681M.
- Now read General Cable's Turnaround Won't Be Quick Or Easy »
Thu, May 19, 4:46 PM
Wed, Apr. 27, 4:43 PM
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Tue, Apr. 5, 8:59 AM
- Chief Executive Officer Michael Mcdonnell's total compensation was $9.3M in 2015.
- Now read Absent A Rumored Buyout, Do Investors Have Much To Look Forward To Regarding General Cable?
Tue, Mar. 22, 3:57 PM
- General Cable (BGC - unchanged) now expects Q1 revenue and EPS to respectively be at the upper end of prior guidance ranges of $825M-$875M and -$0.05 to $0.15. Consensus is at $847.6M and $0.02.
- The cable/wire maker also says it's aiming to boost annual sales by $550M-$600M (at current metal prices), increase op. income by $160M, and grow annual EPS to more than $2.60 by 2018. For reference, 2017 sales and EPS consensus estimates are at $3.62B and $1.11.
- The remarks were made at General Cable's investor day. Ahead of the investor day, General Cable announced CFO Brian J. Robinson is leaving.
- Investor day: webcast, slides (.pdf)
Mon, Mar. 21, 5:22 PM
- Brian J. Robinson, General Cable's (NYSE:BGC) CFO since 2007, will leave following the naming of a successor and "a suitable transition period."
- CEO Michael McDonnell: "I’d like to thank [Brian] for his many contributions to the company’s success and for his strong input into our new strategic roadmap, which we will detail at our investor day, tomorrow, March 22. In the process of developing the roadmap, Brian and I discussed his future plans and it became clear that now is the right time for him personally and for the company to begin a smooth transition."
- Search firm Heidrick & Struggles has been hired to help find Robinson's replacement.
Thu, Feb. 11, 12:49 PM
Thu, Feb. 11, 9:42 AM
Wed, Feb. 10, 4:29 PM
- General Cable (NYSE:BGC): Q4 EPS of $0.05 misses by $0.08.
- Revenue of $913.3M (-33.8% Y/Y) misses by $6.47M.
- Shares -0.21%.