Xerium Technologies (XRM) Misses Q3 EPS Views; Updates FY16 Outlook

Xerium Technologies (NYSE: XRM) reported Q3 EPS of $0.05, $0.37 worse than the analyst estimate of $0.42. Revenue for the quarter came in at $119.2 million versus the consensus estimate of $120.05 million.

Updated 2016 Outlook

• Consistent with the Company’s previous communications, the Company expects continuing sales volume growth in its rolls segment for the full year. In the machine clothing segment, sales are expected to decline relative to the prior year, as the Company brings on new volume from plant investments and new products to offset the declines in legacy businesses.
• The Company continues to expect 2016 free cash flow to be in the range of $25 to $30 million. As a result of economic weakness in Latin America, persistently unfavorable foreign exchange impacts, and margin compression, the Company now expects full-year adjusted EBITDA to approximate $100 million, assuming our current sales, production and currency outlooks.

For earnings history and earnings-related data on Xerium Technologies (XRM) click here.

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