Milacron Holdings Corp. reports 2017 results

For the year ended December 31, 2017, sales were $121.2 million compared to $112.9 million in the same period a year ago. Excluding $0.9 million of favorable effects of currency movements, sales increased 6.6% compared to the prior year. Operating earnings for the year ended December 31, 2017 increased 19.0% to $20.7 million compared to operating earnings of $17.4 million in the prior year. Adjusted EBITDA for the full year increased 10.2% to $26.9 million, or 22.2% of sales, from Adjusted EBITDA of $24.4 million, or 21.6% of sales, in the prior year.

2018 Outlook

In line with current market conditions, Milacron forecasts 2.0% to 4.0% sales growth in 2018, which is inclusive of an anticipated 1.0% foreign currency tailwind. Adjusted EBITDA is forecasted to be between $237 million and $243 million. Free cash flow is forecasted to be between $80 million and $90 million.

Fourth Quarter 2017:
  • Sales of $324.9 million increased 12.4% on an as-reported basis and 9.0% on a constant currency basis
  • Orders of $316.3 million increased 8.7% on an as-reported basis and 5.3% on a constant currency basis
  • Operating earnings (GAAP) increased 14.8% to $10.1 million; Adjusted EBITDA (non-GAAP) increased 12.7% to $60.4 million, or 18.6% of sales
  • Diluted EPS (GAAP) of $0.05; Diluted adjusted EPS (non-GAAP) of $0.59
  • Cash flow from operations of $103.0 million increased $47.6 million, driving free cash flow of $95.5 million, a $66.3 million increase versus $29.2 million in the prior year period
Full Year 2017:
  • Sales of $1,234.2 million increased 5.8% on an as-reported basis and 5.2% on a constant currency basis
  • Orders of $1,299.9 million increased 9.1% on an as-reported basis and 8.5% on a constant currency basis
  • Operating earnings (GAAP) decreased 16.7% to $88.0 million; Adjusted EBITDA (non-GAAP) increased 6.8% to $227.3 million, or 18.4% of sales
  • Diluted EPS (GAAP) of $0.02; Diluted adjusted EPS (non-GAAP) of $1.81
  • Cash flow from operations of $110.4 million decreased $5.8 million, driving free cash flow of $83.2 million, a $23.4 million increase versus $59.8 million in the prior year
Source: Milacron




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