A. Schulman Shares Drop on Weak Q1 Results

A. Schulman, Inc. (SHLM) reported adjusted first quarter earnings of $0.34 per share on $495 million in revenue after today’s closing bell, coming up well short of Wall Street’s expectations. As a result, shares are currently taking a beating during extended hours trading.

Analysts were expecting a profit of $0.45 per share on sales of $540 million, on average. The plastic supplier posted net earnings of $9.4 million, 45% less than the same period last year, while revenue rose by 37% year-over-year.

The company reaffirmed its full-year earnings guidance of $57 million to $62 million, or a range of about $1.80 to $1.97 per share. Analysts are currently expecting a profit of $1.91 per share.

Shares of SHLM fell to $21.00 (-4.46%) during after hours trading, adding to the 1.35% fall they took during today’s regular session. At that level, the stock carries a 2.95% dividend yield.

The company raised its quarterly dividend by 3.3% to $0.155 per share back in October.

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