Unique Fabricating (NYSE: UFAB) reported Q3 EPS of $0.10, $0.06 worse than the analyst estimate of $0.16. Revenue for the quarter came in at $41.2 million versus the consensus estimate of $42.69 million.

2017 Outlook

For the full year 2017, Unique Fabricating is updating its outlook based on revised industry production projections of 17.2 million light vehicles for the year, based on independent industry research published in October, and the mix of production by light vehicle platform contained in such research. This production estimate compares to a July industry projection of 17.55 million light vehicles:

Third Quarter 2017 Financial Highlights

• Revenue of $41.2 million in the third quarter 2017, down 7.9% compared to $44.8 million in the third quarter 2016
• Net income of $0.7 million, or $0.07 per basic and diluted share in the third quarter 2017, compared to $2.5 million, or $0.26 per basic and $0.25 per diluted share in the third quarter 2016
• Adjusted EBITDA of $3.7 million in the third quarter 2017, including $1.6 million for non-cash charges specifically related to depreciation and amortization and non-cash stock awards, compared to $5.9 million in the third quarter 2016, including $1.5 million for non-cash charges specifically related to depreciation and amortization and non-cash stock awards(1)
• Adjusted diluted earnings per share of $0.10 in the third quarter 2017 versus $0.26 in the third quarter 2016(1)
• Declared a quarterly cash dividend of $0.15 per share payable on December 7, 2017 for stockholders of record as of November 30, 2017

GUIDANCE:

Unique Fabricating sees FY2017 EPS of $0.64-$0.68, versus the consensus of $0.74. Unique Fabricating sees FY2017 revenue of $173-177 million, versus the consensus of $178.33 million.

For earnings history and earnings-related data on Unique Fabricating (UFAB) click here.