Libbey (LBY) Reports In-Line Q1 EPS

Libbey (NYSE: LBY) reported Q1 EPS of ($0.13), in-line with the analyst estimate of ($0.13). Revenue for the quarter came in at $181.9 million versus the consensus estimate of $178.27 million.

Outlook

Today the Company affirmed its previously provided full-year 2018 outlook, with expected Adjusted EBITDA margins (see Table 6) within the 10 percent to 11 percent range. The Company still expects:

Net sales increase in the low-single digits, compared to full-year 2017, on a reported basis
Capital expenditures in the range of $50 million to $55 million
Selling, general and administrative expense around 17 percent of net sales

For the first half of 2018, the Company affirmed the following:

Net sales increase in the low-single digits, when compared to the first half of 2017, on a reported basis
Adjusted EBITDA margins of 8.5 percent to 9.5 percent (see Table 6)

Jim Burmeister, vice president, chief financial officer, commented, "We're continuing to invest in the important strategic areas of our business while maintaining the competitive strength of our balance sheet. Debt reduction remains a priority for excess cash flow over the near-term horizon, and improving financial performance throughout the year should enable us to pursue this objective.

For earnings history and earnings-related data on Libbey (LBY) click here.

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