ASV Holdings, Inc. (ASV) Tops Q4 EPS by 2c, Miss on Revenues

Note: EPS may not be comparable

ASV Holdings, Inc. (NASDAQ: ASV) reported Q4 EPS of $0.05, $0.02 better than the analyst estimate of $0.03. Revenue for the quarter came in at $30.5 million versus the consensus estimate of $31.33 million.

Fourth Quarter 2017 Highlights

• $30.5 million in Net Sales represented a year-over-year increase of 21.5% over $25.0 million in the fourth quarter of 2016.
• Machine sales revenues increased year-over-year by 39.0% to $21.0 million.
• Adjusted fourth quarter 2017 net income* of $0.5 million or $0.05 per share, compared to fourth quarter 2016 adjusted pro forma C Corporation net loss of $(0.8) million or $(0.10) per share, representing a positive swing of $1.3 million. The largest adjustment to earnings came from debt refinancing costs as discussed below.
• EBITDA of $1.7 million or 5.6% of sales compared to $2.4 million or 9.8% of sales for the fourth quarter of 2016.
• Adjusted EBITDA* of $2.2 million or 7.4% of sales compared to fourth quarter 2016 pro forma adjusted EBITDA of $1.0 million or 4.0% of sales.
• Completed re-financing of credit facility with new 5-year, $50.0 million facility, reducing weighted average effective interest cost to approximately 5.3%, compared to 6.9% at December 31, 2016. We incurred $0.9 million debt refinancing costs including the amortized costs of the prior facilities and a pre-payment penalty in the period.

For earnings history and earnings-related data on ASV Holdings, Inc. (ASV) click here.

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