per share reached EUR 1.14, after EUR 1.10 in the first half of the previous year (+4 %).
* Earnings per share up 24% and normalized earnings
per share up 12%
The retention of Rubbermaid Commercial Products will be accretive to operating margins, normalized earnings
per share and operating cash flow in 2020 and future years.
The 2019 investment plan remains unchanged and includes prudent capital allocation of approximately $1.3 billion to projects with strong risk-adjusted returns, near-term contributions to normalized FFO per share and normalized earnings
per share (EPS), and secure commercial underpinnings.
attributable to common shareholders in the third quarter of 2018, after adjusting for non-recurring items and fair value adjustments, were $36 million or $0.35 per share compared with $29 million or $0.28 per share in the third quarter of 2017.
attributable to common shareholders in the second quarter of 2016, after adjusting for one-time items and fair value adjustments, were $29 million or $0.30 per share compared with $10 million or $0.10 per share in the second quarter of 2015.
Newell Rubbermaid said the acquisition is expected to be accretive to normalized earnings
and operating margin in 2016.
Or, as the authors put it in simple numbers: "We believe it is the height of folly to assume that a market trading at 45 times normalized earnings
, as the S&P 500 was in 2000, can achieve similar returns to one trading at seven times, as it was in 1982."
"Based on current market conditions and the trading environment, Air New Zealand expects FY13 normalized earnings
before taxation to be in the range of NZ$235-260 million (US$198-220 million)," it said.
He liked to use normalized earnings
to adjust for outliers and averages of five or more years--preferably seven or 10 years.
The International Glossary of Business Valuation Terms (SSVS1, Appendix B) defines "normalized earnings
" as "...
This could be due to a variety of factors including emotional attachment to the business, unwillingness to accept the impact of the risk factors of the business, outside influence from previous market conditions, incorrect conclusion of normalized earnings
, comparable transactions, etc.