Jason Industries (JASN) Reports Q3 Loss of $1.19

Jason Industries (NASDAQ: JASN) reported Q3 EPS of ($1.19), versus ($0.19) reported last year. Revenue for the quarter came in at $85.6 million versus the consensus estimate of $154.1 million.

“Weak economic conditions in Europe and Asia, lower general industrial production in North America, and softening end-market demand with our OEM customers impacted Jason's results. During the quarter we experienced reduced OEM build schedules and channel inventory destocking in both segments" said Brian Kobylinski, chairman and chief executive officer of Jason. “Despite these turbulent market conditions we remain focused on running the business and are encouraged by new platform wins, share gains, improved operational performance, facility consolidations and cost reductions, and acquisition integration. We are transforming our portfolio and better positioning the business for an improved demand environment."

For earnings history and earnings-related data on Jason Industries (JASN) click here.

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