Milacron Holdings Corp (MCRN - Free Report) 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.
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.