Venator Materials PLC (VNTR) Tops Q4 EPS by 2c

Venator Materials PLC (NYSE: VNTR) reported Q4 EPS of ($0.09), $0.02 better than the analyst estimate of ($0.11). Revenue for the quarter came in at $464 million versus the consensus estimate of $464.05 million.

Fourth Quarter 2019 Highlights

• Net loss attributable to Venator of $174 million and an adjusted net loss of $10 million; Diluted loss per share of $1.63 and adjusted diluted loss per share of $0.09
• Adjusted EBITDA of $23 million
• Net cash provided by operating activities was $69 million and free cash flow was $20 million in the fourth quarter

Simon Turner, President and CEO of Venator, commented:

"In 2019 we accelerated our Business Improvement Program and delivered $20 million of adjusted EBITDA benefits, double our original target. In addition, we advanced our customer-tailored approach to reduce our overall TiO2 price volatility.

"We expect a challenging macroeconomic environment in 2020. We are committed to further improving our cost competitiveness and have made considerable progress on our transfer of specialty and differentiated TiO2 products, strengthening our leadership position in these high value applications. We continue to take meaningful steps to reduce our cash uses and improve free cash flow."

For earnings history and earnings-related data on Venator Materials PLC (VNTR) click here.

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