PQ Group Holdings Inc. (PQG) Tops Q1 EPS by 3c, Revenues Miss; Offers FY19 EPS/Revenue Outlook

PQ Group Holdings Inc. (NYSE: PQG) reported Q1 EPS of $0.13, $0.03 better than the analyst estimate of $0.10. Revenue for the quarter came in at $359.2 million versus the consensus estimate of $368.31 million.

• Sales of $359.2 million declined 1.9%; up 1.4% on constant currency basis on stronger pricing and commercial activities in all business segments;
• Net income of $3.2 million or diluted EPS of $0.02; Adjusted net income of $17.5 million or Adjusted diluted EPS of $0.13;
• Adjusted EBITDA of $101.0 million; Adjusted EBITDA margin of 26.0%;
• Reaffirming 2019 Financial Guidance including Adjusted free cash flow of $125 million to $145 million

“Our team's strong commercial execution, particularly in achieving higher prices in all of our business segments, delivered solid operating results,” commented Belgacem Chariag, PQ President and Chief Executive Officer. “With firm hydrocracking catalyst orders and expected growth in highway safety demand, we are reaffirming our outlook for 2019.”

GUIDANCE:

PQ Group Holdings Inc. sees FY2019 EPS of $0.75-$0.93, versus the consensus of $0.83. PQ Group Holdings Inc. sees FY2019 revenue of $1.64-1.67 billion, versus the consensus of $1.65 billion.

• Adjusted EBITDA of $470 million to $485 million
• Adjusted free cash flow of $125 million to $145 million

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

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