Sales and Profit Growth at Nexeo Solutions, Inc.
US-based chemicals and plastics distributor Nexeo Solutions, Inc. (The Woodlands (Houston), TX – United States of America) earlier this week announced its financial results for Q3-FY2017 (ending 30. June).
Sales and operation revenues were USD 942.7 mn, reflecting a 9% year-over-year increase, driven by increased average selling prices (ca. 6% points) , an increase in sales volume (ca. 1% point) and a USD 17.1 mn contribution from the Ultra Chem acquisition. This was partially offset by a stronger USD when compared to last year. Gross profit came in at USD 103 mn (up 9%), (adjusted EBITDA at USD 52.4 mn (up 12%) and a Net Income of USD 10 mn (vs. Net Loss of USD 15.5 mn in Q3-FY2016).
The company also said it has completed the implementation of a new transportation management system. This proprietary operating platform is supposed to yield significant efficiency gains and cost savings, according to Nexeo’s statement.
Source: Nexeo press release
HGE – DCG / 11.08.2017