Unique Fabricating (UFAB) Misses Q2 EPS by 7c, Miss on Revenues; Lowers FY17 EPS/Revenues Below Consensus

Unique Fabricating (NYSE: UFAB) reported Q2 EPS of $0.17, $0.07 worse than the analyst estimate of $0.24. Revenue for the quarter came in at $44.5 million versus the consensus estimate of $46.47 million.

This outlook is based on expected production of 17.55 million light vehicles for the year, based on independent industry research published in July, and the mix of production by light vehicle platform contained therein.

GUIDANCE:

Unique Fabricating sees FY2017 EPS of $0.76-$0.80, versus the consensus of $0.91. Unique Fabricating sees FY2017 revenue of $177-181 million, versus the consensus of $184.5 million.

Second Quarter 2017 Financial Highlights

• Revenue of $44.5 million in the second quarter 2017, up 5.9% compared to $42.0 million in the second quarter 2016
• Net income of $1.7 million, or $0.17 per basic and diluted share in the second quarter 2017, compared to $0.6 million, or $0.06 per basic and diluted share in the second quarter 2016
• Adjusted EBITDA of $5.0 million in the second quarter 2017, including $1.6 million for non-cash charges specifically related to depreciation and amortization and non-cash stock awards, compared to $4.3 million in the second quarter 2016, including $1.4 million for non-cash charges specifically related to depreciation and amortization and non-cash stock awards(1)
• Adjusted diluted earnings per share of $0.19 in the second quarter 2017 versus $0.14 in the second quarter 2016(1)
• Declared a quarterly cash dividend of $0.15 per share payable on September 7, 2017 for stockholders of record as of August 31, 2017

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

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