PQ Group Holdings Inc. (PQG) Tops Q3 EPS by 3c, Beats on Revenues; Boosts FY17 Adj. EBITDA Outlook

PQ Group Holdings Inc. (NYSE: PQG) reported Q3 EPS of $0.11, $0.03 better than the analyst estimate of $0.08. Revenue for the quarter came in at $391.8 million versus the consensus estimate of $390.49 million.

Highlights

• Sales increased by 5.9% over the prior year third quarter due to organic growth and contribution from the Sovitec acquisition
• Zeolyst Joint Venture sales grew by 33.3% in the third quarter to $37.6 million on higher demand for specialty and hydrocracking catalysts
• Net loss of ($3.4) million improved $6.6 million versus the prior year quarter
• Third quarter Adjusted EBITDA* increased by 5.5% to $119.9 million over the prior year quarter
• Company issues full year 2017 Adjusted EBITDA guidance of $447 million to $453 million on improved outlook

2017 Outlook

Based on year-to-date results and management’s improved expectations for the balance of the year, the Company’s full year 2017 outlook is as follows:

• Net sales including the Zeolyst Joint Venture of $1,585 million to $1,605 million
• Adjusted EBITDA of $447 million to $453 million
• Depreciation of $120 million to $125 million
• Amortization of $53 million to $55 million
• Interest expense of $176 million to $178 million
• Capital expenditures of $140 million to $150 million

For earnings history and earnings-related data on PQ Group Holdings Inc. (PQG) click here.

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