Milacron Holdings Corp. (MCRN) Tops Q2 EPS by 3c; Reaffirms

Milacron Holdings Corp. (NYSE: MCRN) reported Q2 EPS of $0.41, $0.03 better than the analyst estimate of $0.38. Revenue for the quarter came in at $308.1 million versus the consensus estimate of $303.17 million.

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Milacron delivered excellent organic sales growth in the second quarter versus a tough year over year comparable and a soft macro environment," said Milacron Chief Executive Officer, Tom Goeke. "The second quarter developed in line with our expectations, as continued end market and geographic stabilization led to organic sales growth within our APPT and MDCS segments. Orders were robust at 8.5% constant currency growth, driven by our APPT and MDCS segments. We also continue to make great progress in bringing new technology to the market as we shipped the first Klear Can system, a revolutionary innovation that delivers the benefits of plastic in a striking, proven, durable can design, as well as gained additional commercial traction with our co-injected recyclable coffee pods. We remain on track to deliver our full year commitment in line with our previously stated guidance."

Milacron Chief Financial Officer, Bruce Chalmers, added, "Our adjusted EBITDA for the quarter was slightly ahead of our expectations with a 20 basis point improvement, driven by favorable mix within our MDCS segment and the benefits of our general fixed cost optimization actions from the prior year in our Fluids segment. We are also pleased that our free cash flow generation in the second quarter maintained its early 2016 momentum, as our financial flexibility continues to increase."

Milacron reaffirms fiscal 2016 guidance of 0% to 2% organic sales growth and adjusted EBITDA margins to be between 18.5% and 19.0%. Additionally, the Company expects capital expenditures of approximately $50 to $55 million, interest expense to be approximately $60 million, cash taxes to be between $30 to $35 million, an effective tax rate of approximately 30% and shares outstanding to remain flat in 2016.

For earnings history and earnings-related data on Milacron Holdings Corp. (MCRN) click here.

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