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In its earnings call earlier today, Frédéric P. Villoutreix – Executive Chairman and Chief Executive Officer of Schweitzer-Maudit International Management stated:
“With respect to cost optimization, we have continually improved our track record of eliminating cost from the business, and the first quarter was no exception. Year-over-year, cost benefits from our values Lean Six Sigma efforts and restructuring actions provided approximately $5 million of cost improvements, especially in the paper segment.
“Our success in these efforts are to offset the negative impact on higher pulp prices, as well as some mix issues in our base paper business. We have worked hard to generate strong cost savings to offset inflationary and pricing pressures, and this remains our focus on the long run.”
Schweitzer-Mauduit Int’l reported Q1 EPS of $1.01, $0.09 better than the analyst estimate of $0.92. Revenue for the quarter came in at $194.5 million, versus $195 million reported last year. The stock closed the day at $42.82, up $1.60 (4.08%) on above average volume. Click here to see stock price chart.