Kraton Corporation (KRA) Misses Q4 EPS by 1c, Revenues Miss

Kraton Corporation (NYSE: KRA) reported Q4 EPS of $0.67, $0.01 worse than the analyst estimate of $0.68. Revenue for the quarter came in at $447.78 million versus the consensus estimate of $476.29 million.

"Kraton\'s results for the fourth quarter 2018 were in line with our expectations, reflecting positive underlying demand fundamentals, improved profitability in our Chemical segment, and lower sales volume in our Polymer segment primarily reflecting the impact of the previously-disclosed production disruption at our Wesseling site," said Kevin M. Fogarty, Kraton's President and Chief Executive Officer. "Specifically, despite the post-hurricane recovery underway at our Panama City, Florida, site, results for our Chemical segment were favorable, with margin improvement contributing to 18% growth in Adjusted EBITDA, compared to the fourth quarter of 2017. Fourth quarter 2018 Adjusted EBITDA for our Polymer segment was $44 million, down $6 million from the fourth quarter 2017. The multi-week production slowdown, resulting from the record low levels of the Rhine River, contributed to lower fourth quarter paving sales. Additionally, in the quarter, we also experienced lower sales in our Specialty Polymers business, specifically in China and into North American automotive applications, as these markets contracted as we approached year's end," said Fogarty.

For earnings history and earnings-related data on Kraton Corporation (KRA) click here.

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