Sales from continuing operations in the 3Q 2014 were $1.47 billion compared to $1.38 billion in the 3Q 2013. Income from continuing operations attributable to the company in the 3Q 2014 was $105 million or $0.60 per share, compared to $61 million or $0.34 per share in the 3Q 2013. Income from continuing operations attributable to the company excluding special items was $109 million or $0.63 per share in the 3Q 2014, compared to $68 million or $0.37 per share in the 3Q 2013.
“We executed well and made excellent progress improving our margins during the third quarter,” said John A. Luke, Jr., chairman and CEO, MWV. “Despite a low- to no-growth global economic environment, we increased volumes of our valuable, differentiated products in many of our targeted end markets. We also greatly improved profitability from outstanding operational performance and reductions in our cost structure. We are executing our strategy with discipline and generating results each day that move us closer to our goal of sustained industry-leading margins.”
For the 4Q 2014, earnings excluding special items are expected to be above year-ago levels on a continuing operations basis. The company expects ongoing benefits from solid execution of its commercial and operational excellence strategies, as well as continued contributions from its growth and productivity investments and cost savings initiatives.
MeadWestvaco Corporation is a global packaging company providing innovative solutions to the world’s most admired brands in the healthcare, beauty and personal care, food, beverage, home and garden, tobacco, and agricultural industries.
