Platform Specialty Products (PAH) Tops Q4 EPS by 2c

Platform Specialty Products (NYSE: PAH) reported Q4 EPS of $0.20, $0.02 better than the analyst estimate of $0.18. Revenue for the quarter came in at $950 million versus the consensus estimate of $931.42 million.

Fourth Quarter 2016 Highlights:

• Net sales on a reported basis for the fourth quarter of 2016 were a record $950 million, an increase of 29.2% over last year. On a comparable basis, organic sales, which excludes the impact of currency changes, metals prices, acquisitions and divestitures, increased 4.6% quarter-over-quarter;
  • MacDermid Performance Solutions (Performance Solutions segment): Net sales were $457 million, an increase of 76.4% compared to the same period of 2015. On a comparable basis, organic sales increased 6.3% quarter-over-quarter
  • Arysta LifeScience (Agricultural Solutions segment): Net sales were $493 million, an increase of 3.6 % compared to the same period of 2015. On a comparable basis, organic sales increased 3.1% quarter-over-quarter
• Reported net income attributable to common stockholders was $4 million, compared to a net loss of $130 million for the same period in 2015. Diluted earnings per share were $0.01 on a GAAP basis compared to a diluted loss per share of $0.60 in the same period of 2015;
• Adjusted earnings per share were $0.20 compared to comparable adjusted earnings per share of $0.14 in the same period of 2015;
• Adjusted EBITDA for the fourth quarter of 2016 was $218 million, an increase of 18.7% on a comparable constant currency basis over the fourth quarter of 2015. Adjusted EBITDA margin for the combined company was 23.0% compared to comparable adjusted EBITDA margin of 20.3% in 2015;
• Additional cost synergies of $19 million were reported in the fourth quarter of 2016 from on-going integrations.

For earnings history and earnings-related data on Platform Specialty Products (PAH) click here.

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