Kapstone Paper and Packaging Corporation Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2018; Provides Earnings Guidance for the Fiscal Year 2018
For the quarter, the company reported net sales of USD 2,605,526,000 against USD 2,456,978,000 a year ago. Operating income was USD 241,030,000 against USD 116,375,000 a year ago. Income before provision for income taxes was USD 204,719,000 against USD 85,106,000 a year ago. Net income was USD 158,435,000 against USD 55,794,000 a year ago. Basic earnings per share were USD 1.62 against USD 0.58 a year ago. Diluted earnings per share were USD 1.59 against USD 0.57 a year ago. Non-GAAP EBITDA were USD 389,463,000 against USD 262,175,000 a year ago. Non-GAAP adjusted EBITDA were USD 415,189,000 against USD 301,225,000 a year ago. Non-GAAP Adjusted Net Income was USD 177,987,000 against USD 80,200,000 a year ago. Non-GAAP Adjusted Diluted EPS were USD 1.78 against USD 0.81 a year ago. Net cash provided by operating activities was USD 188,896,000 against USD 175,919,000 a year ago. Capital expenditures were USD 111,739,000 against USD 108,012,000 a year ago.
The company provided earnings guidance for the fiscal year 2018. The company expects strong finish for 2018 as Victory Packaging, the company's distribution business, had a seasonally strong third quarter.