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Ferro Corporation Message Board

  • teechmeeinvesting teechmeeinvesting Apr 19, 2000 12:13 PM Flag

    when are earnings announced? EOM

    <EOM>

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    • I bet that Hector is pretty happy these days,
      stocks going up , the board should be happy on Friday. I
      just hope that the board realizes that Hector has
      raised the bottom line by dedstroying people lives by
      eliminating the jobs. That coild happen to any of us at
      anytime. So many people in the age group of 55 to 59 have
      been forced out by claiming to have elimunated the
      job. BULL CRAP. You got screwed so that Hector could
      raise the bottom line. These long termers have gotten
      Ferro to where they are today. You owe them more than
      just money you owe them respect. With stock prices
      like they are today who would touch the 401k plan
      anyway. The big boys keep getttinhg those stock options
      and bonuses and we get shafted.

      • 1 Reply to orref_2000
      • Even with the recent rise in the stock price, I
        don't think there is any reason for Hector to
        celebrate. Let's look at the facts:

        Ferro stock price
        was at $23.5+ in Feb 1994. Six years later, the stock
        price is $23.

        S&P 500 was about 454, six years
        ago. Yesterday, it closed at 1460. In short, while the
        average stock was up 222% in 6 years, Ferro was basically
        unchanged in 6 years.

        The problems facing Ferro are
        numerous. The free-fall of the Euro is a major problem (the
        quarter point rate hike today is not helping ). The
        impending slowdown in the US economy will be challenging
        (1st quarter's 18.6 million annualized rate of auto
        sales cannot be sustained). The rise in the price of
        raw materials is another headache. The
        underperformance of the 401k plan is a significant
        liability.

        Apart from a generally incompetent and boorish
        high-level management, Ferro has many things going for it.
        But if I were performing so poorly, I would rather
        have a root canal every day of the year than go and
        face Ferro shareholders. I would not be in Hector's
        shoes for all of Bill Gates' money. Or for all the tea
        in China. Or, if you prefer, for all the beef in
        Argentina.

    • Ferro's earnings should be announced next Tuesday
      or Wednesday, if history is any guide. I can't find
      an official date on Yahoo or my other usual
      sources.

      Rohm and Haas (ROH) missed their number by 6 cents (56
      cents versus 62 cents) and the stock lost 16.5% today.
      Part of the blame was attributed to higher raw
      materials costs for its performance polymer division. More
      ominously, ROH warned that earnings for the next quarter may
      be 10% lower than the quarter just ended if raw
      materials costs stayed high.

      Ferro must be facing
      similar raw material price concerns. Moreover, the recent
      action in the stock market and consequent loss of about
      $1.5 trillion in market capitalization will have a
      significant negative effect on auto and home sales. So Ferro
      is looking down a twin barreled gun. Significantly
      higher raw material prices and slowing demand
      (historically, it takes about 6 months for market cap losses to
      show up in reduced demand - though I suspect we will
      see it sooner this time).

      In any case, the
      earnings report to be released next week will be most
      interesting.

 
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