Shiloh Industries (SHLO) Misses Q1 EPS by 15c, Revenues Beat

Shiloh Industries (NASDAQ: SHLO) reported Q1 EPS of ($0.12), $0.15 worse than the analyst estimate of $0.03. Revenue for the quarter came in at $243.5 million versus the consensus estimate of $239.66 million.

First-Quarter 2020 Highlights:

• Revenues were $243.5 million.
• Gross profit was $19.3 million, an increase of 40.9% over prior year.
• Gross margin of 7.9%, an expansion of 260 basis points over prior year.
• Net loss was $3.7 million or $0.16 cents per basic share, an improvement of 20%.
• Adjusted EBITDA was $15.3 million, an increase of 21.4% over prior year.
• Adjusted EBITDA margin was 6.3%, an expansion of 140 basis points over prior year.

“We are pleased with a 41% gross margin improvement in the first quarter. Execution of strategic initiatives are improving profitability as demonstrated by the expansion of our gross margin and adjusted EBITDA margin,” said Ramzi Hermiz, president and chief executive officer. \"I am also delighted to announce two additional manufacturing facilities are now utilizing 100% renewable electrical energy, bringing our total to five facilities globally as we make further progress towards our sustainability goals."

"Additionally, we were awarded significant new global business with luxury European OEMs, reinforcing the strong demand for our innovative product solutions across the globe. We are working closely with our customers and suppliers to assess the impact of the COVID-19 virus, while taking appropriate precautions to ensure the safety of our employees. The investments that we have made to enhance our operational flexibility and improve our performance have positioned us to navigate market cycles and disruptions. We remain confident in our ability to deliver our original 2020 financial guidance.”

2020 Outlook

Shiloh is maintaining its previously announced 2020 guidance for revenue of approximately $1 billion and adjusted EBITDA in the range of $75 million to $80 million, representing an increase of 7% to 15% compared to 2019.

For earnings history and earnings-related data on Shiloh Industries (SHLO) click here.

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