Shares of A. Schulman Inc. fell more than 5% in premarket trade after the plastics supplier issued a profit warning ahead of its second-quarter earnings. In a statement, A. Schulman Chief Executive Officer Bernard Rzepka said the company was “extremely disappointed” with the company’s second-quarter results, which are now expected to come in around 25 cents to 30 cents a share, versus the Street’s view of 48 cents. The company lowered its full-year adjusted earnings per share guidance to a range of $2.40 to $2.45, from a previously-provided range of $2.80 to $2.85. Analysts on average are expecting earnings per share of $2.94 for the year, according to FactSet. The company blamed the weak performance on the previously-disclosed negative quality reports related to some materials produced at a plant in Indiana, and weaker sales volumes in the company’s Citadel and legacy businesses, which it said were impacted by lower oil prices.
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