Milacron Holdings Corp. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2018; Revises Earnings Guidance for the Full Year of 2018
For the period, the company reported net sales were $638.5 million against $594.6 million a year ago. Operating earnings was $58.3 million against $48.9 million a year ago. Earnings before income taxes were $35.1 million against $0.3 million a year ago. Net income was $20.8 million against net loss of $14.5 million a year ago. Diluted income per share was $0.29 against diluted loss per share of $0.21 a year ago. Net cash provided in operating activities was $22.1 million against net cash used in operating activities of $1.4 million a year ago. Purchases of property and equipment were $15.9 million against $25 million a year ago. Adjusted EBITDA was $118.2 million against $109.6 million a year ago. Adjusted diluted earnings per share were $0.87 against $0.78 a year ago. Net debt of $743.8 million. Adjusted net income was $62.6 million against $55.2 million a year ago.
The company revised the earnings guidance for the full Year of 2018. For the full year, the company forecasts 2.0% to 4.0% organic sales growth in 2018, which is inclusive of an anticipated 1.0% foreign currency tailwind. Adjusted EBITDA is forecasted to be between $237 million and $240 million. Free Cash Flow is forecasted to be between $80 million and $90 million. The company expects capital expenditures $45 million.