Double-digit Year-on-Year Sales Growth at A. Schulman
Plastics compounder and distributor A. Schulman, Inc. (Acron, OH, United States) has recently published results for Q1 of FY2018 (ending 30. November 2017). Consolidated Net Sales increased to USD 674.6 mn, up 12.4% from the USD 600 mn acchieved in the prior year. Operating Income was USD 36.8 mn, up from USD 19.1 mn. This resulted in a quarterly Net Income of USD 12.4 mn or USD 0.43 per diluted share. This compares with USD 1.1. mn or USD 0.04 per diluted share in the same period of FY2017.
A. Schulman is mentioning “a positive shift in momentum” and says the company continues “to build on its FY2017 reset actions”. A “robust performance” was observed in Latin America and Asia-Pacific. EMEA saw a “shift to volume growth” for the first time since mid-2015. The company is “coutiously optimistic about the health of … the key markets in that region.” In North America, Hurricane Harvey had a negative impact of ca. USD 1.5 mn on Operating Income.
Source: A. Schulman press release
HGE / DCG – 30.01.2018