Omnova Solutions (OMN) Tops Q1 EPS by 3c, Beats on Revenues

Note: EPS may not be comparable

Omnova Solutions (NYSE: OMN) reported Q1 EPS of $0.09, $0.03 better than the analyst estimate of $0.06. Revenue for the quarter came in at $178.7 million versus the consensus estimate of $174.7 million.

First Quarter 2018 Highlights

• Earnings per Diluted Share for Q1 of 2018 were $0.16 compared to $0.08 last year.
• Adjusted Diluted Earnings per Share for the quarter were $0.09 compared to $0.05 last year.
• Specialty Solutions segment operating profit for the quarter was $13.6 million compared to $9.5 million last year. Adjusted Segment Operating Profit for Specialty Solutions was $14.7 million, up 52% from $9.7 million last year, driven by higher volumes, stronger margins and favorable foreign exchange.
• Net Debt to Adjusted EBITDA improved to 3.3x from 3.6x at the end of last year\'s first quarter.
• In December 2017, the Company pre-paid $40 million of Term Loan B debt.
• In March 2018, the Company refinanced its Term Loan B debt reducing the rate spread by 100 basis points.
• The Company's 2018 full year performance expectations are unchanged - the fourth consecutive year of adjusted diluted earnings per share growth.

For earnings history and earnings-related data on Omnova Solutions (OMN) click here.

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