Milacron (MCRN) Q3 Earnings Beat Estimates, Raises Outlook
Milacron Holdings Corp. MCRN manufactures, distributes, and services engineered and customized systems within the plastic technology and processing industry in North America, Europe, Asia, and internationally.
Milacron’s revenue growth will be driven by rising demand from plastics in many markets, geographic expansion of certain product lines and solid order growth. The company’s breakthrough Klear Can technology will be a game changer given its edge over traditional metal cans. Milacron’s cost-reduction initiatives will aid margins.
We have highlighted some of the key stats from this just revealed announcement below:
Estimate Trend & Surprise History: Investors should note that the earnings estimate revisions for Milacron Holdings has remained stabled prior to the earnings release. The Zacks Consensus Estimate currently stands at 42 cents for the third quarter.
In the past four quarters, the company managed to beat the Zacks Consensus Estimate on three occasions and came in line in one quarter. The company has an average positive surprise of 10.31%.
Milacron Holdings Corp. Price and EPS Surprise
Milacron Holdings Corp. Price and EPS Surprise | Milacron Holdings Corp. Quote
Earnings: Milacron Holdings delivered adjusted earnings per share of 44 cents in the third quarter 2017, ahead of the Zacks Consensus Estimate of 42 cents. Earnings per share rose 22.2% year over year from 36 cents recorded in the second quarter of 2016.
Revenue: Milacron Holdings posted revenues of $314.7 million, ahead of the Zacks Consensus Estimate for revenues of $300.9 million.
Key Developments to Note: Milacron Holdings raised its 2017 organic sales growth guidance range to 3.0% to 3.5% and adjusted EBITDA in the range of $222 to $224 million for the full year.
Zacks Rank: Currently, Milacron Holdings has a Zacks Rank #4 (Sell). But that could change following Milacron Holdings’ earnings report which was just released.
Market Reaction: Milacron Holdings’ shares were inactive following the release. It would be interesting to see how the market reacts to the results during the trading session today.
Check back later for our full write up on this Milacron Holdings earnings report later!
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