AEP Industries dips after posting lower Q2 profit
AEP Industries (Nasdaq:AEPI) shares are down more than 13% after the plastics packaging firm said it swung to a loss from continuing operations of $0.48 a share during the second quarter, versus a year-ago profit of $0.65 a share. Before Monday’s opening bell, AEP said its second-quarter profit was trimmed to $5.5 million, or $0.81 per share, compared with $6.2 million, or $0.77 per share, a year earlier. Quarterly net sales jumped 14% to $181.2 million versus a year-earlier tally of $158.3 million.
In Monday afternoon trading, AEPI shares are down 13.57%, or $3.01, to $19.17. For detailed price information and recent news stories about AEP Industries, click AEPI.
About the Author
Reporter Will Atkinson is based in SmallCapInvestor.com's Washington, D.C. bureau.
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