Essendant (ESND) Tops Q1 EPS by 5c, Names New CFO

Essendant (NASDAQ: ESND) reported Q1 EPS of $0.25, $0.05 better than the analyst estimate of $0.20. Revenue for the quarter came in at $1.27 billion versus the consensus estimate of $1.32 billion.

Outlook for 2017

The following outlooks exclude the impacts of any new acquisitions or unusual charges.

• Net sales are expected to be flat to down 4%
• Adjusted diluted earnings per share(1) are expected to improve sequentially throughout 2017
• Free cash flow(1) generation expected to be in the range of $50 million to $70 million

Essendant Announces CFO Transition

Essendant also announced today that Janet Zelenka has been appointed Chief Financial Officer, effective May 26, 2017. Ms. Zelenka will succeed Earl Shanks who will be retiring from the Company after assisting in a brief transition.

Ms. Zelenka joined Essendant in 2006 and currently serves as the Company's Chief Information Officer. Previously, she held senior finance roles at the Company, including Vice President of Finance and Margin Management. Prior to joining Essendant, Ms. Zelenka held executive positions at SBC-Ameritech, including Chief Financial Officer of Information Technology. The company's IT function will continue to report to Ms. Zelenka in her new role as Chief Financial Officer.

Mr. Aiken commented, "I want to thank Earl for his commitment to Essendant and the many contributions he has made to the Company during his tenure. He has played a key role in guiding the Company as we have developed and implemented our transformation plan. I appreciate Earl's willingness to assist us in ensuring a smooth transition and wish him well in the future."

Mr. Aiken continued, "I am also pleased that Janet will assume the role of CFO going forward. Janet brings a clear understanding of our business developed over more than 10 years with the Company along with deep financial expertise. We have worked closely together and I am confident she is the right person to lead our finance organization going forward."

For earnings history and earnings-related data on Essendant (ESND) click here.

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