Neenah Paper (NP) Tops Q3 EPS by 3c, Beats on Revenues

Neenah Paper (NYSE: NP) reported Q3 EPS of $1.02, $0.03 better than the analyst estimate of $0.99. Revenue for the quarter came in at $245.1 million versus the consensus estimate of $240.65 million.

Third Quarter Highlights

• Revenue of $245.1 million increased 5 percent, or $12.2 million, from $232.9 million in the prior year.
• Operating income of $29.0 million increased 8 percent, or $2.1 million, from $26.9 million in the prior year.
• Earnings per diluted share (E.P.S.) of $1.10 increased 16 percent from $0.95 per share in 2016.
• On an adjusted basis, E.P.S. of $1.02 in 2017 increased 3 percent from $0.99 in 2016. Adjusted E.P.S. excluded $0.12 per share in 2017 for net proceeds from an insurance settlement, and acquisition, integration, and restructuring costs of $0.04 per share in both years.
• Cash generated from operations of $36.2 million decreased from $40.6 million in 2016 while capital spending of $8.0 million in the quarter decreased from $20.8 million in the third quarter of 2016.
• A binding agreement was signed to acquire Coldenhove, a Netherlands-based performance materials company and leader in digital transfer media, with annual sales of $45 million. Closing occurred on November 1, with a payment of $45 million.
• Quarterly cash dividends of $0.37 per share were paid, a 12% increase compared to the prior year period.

For earnings history and earnings-related data on Neenah Paper (NP) click here.

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