Milacron Holdings Corp reported second-quarter fiscal 2017 adjusted earnings per share of 46 cents, a 12% increase year over year and also surpassed the Zacks Consensus Estimate of 41 cents. The improved performance was aided by continued orders and sales momentum, along with strong performance in Melt Delivery and Control Systems and Fluids businesses. Further, Advanced Plastic Processing Technologies’ aftermarket business helped deliver the performance.
Including one-time items, the company reported earnings per share of 14 cents in the quarter compared with 18 cents per share in the year-ago quarter.
Operational Update
Milacron’s revenues inched up 0.4% to $309 million from the year-ago quarter. Revenues beat the Zacks Consensus Estimate of $306 million. Excluding the unfavorable impact of foreign currency, sales for the quarter increased 1.4% from the prior-year quarter.
Cost of sales during the quarter went up 2.3% year over year to $205 million compared with the prior-year quarter. Gross profit declined 3% year over year to $103.8 million with gross margin contracting 120 basis points to 33.6%.
Selling, general and administrative expenses increased 1% year over year to $64.5 million. Milacron reported adjusted operating profit of $34.6 million which decreased 3% from $35.7 million in the year-ago quarter. Adjusted EBITDA went up 3.1% to $59.6 million for the quarter from $57.8 million in the prior-year quarter.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Milacron Holdings Corp reported second-quarter fiscal 2017 adjusted earnings per share of 46 cents, a 12% increase year over year and also surpassed the Zacks Consensus Estimate of 41 cents. The improved performance was aided by continued orders and sales momentum, along with strong performance in Melt Delivery and Control Systems and Fluids businesses. Further, Advanced Plastic Processing Technologies’ aftermarket business helped deliver the performance.
Including one-time items, the company reported earnings per share of 14 cents in the quarter compared with 18 cents per share in the year-ago quarter.
Operational Update
Milacron’s revenues inched up 0.4% to $309 million from the year-ago quarter. Revenues beat the Zacks Consensus Estimate of $306 million. Excluding the unfavorable impact of foreign currency, sales for the quarter increased 1.4% from the prior-year quarter.
Cost of sales during the quarter went up 2.3% year over year to $205 million compared with the prior-year quarter. Gross profit declined 3% year over year to $103.8 million with gross margin contracting 120 basis points to 33.6%.
Selling, general and administrative expenses increased 1% year over year to $64.5 million. Milacron reported adjusted operating profit of $34.6 million which decreased 3% from $35.7 million in the year-ago quarter. Adjusted EBITDA went up 3.1% to $59.6 million for the quarter from $57.8 million in the prior-year quarter.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Get the latest research report on TEX - FREE
Get the latest research report on DE - FREE
Get the latest research report on AGCO - FREE