Forterra up 11% post Q1 results [Seeking Alpha]
Forterra, Inc. (FRTA)
Last forterra, inc. earnings: 4/29 06:28 pm
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Source: Seeking Alpha
Forterra up 11% post Q1 resultsForterra (FRTA+11%) reported Q1 sales of $289.96M (-14.3% Y/Y), decline was due to impact of asset sales and divestitures, downtime at the Bessemer, Alabama ductile iron pipe facility and weather.Drainage pipes & products segment sales declined by 3% Y/Y to $155.6M, gross marginimproved by 620 bps to 17% and Adj. EBITDA marginimproved by 640 bps to 14.4%.Water pipe & products segment sales declined by 32% Y/Y to $134.3M, gross marginfell by 650 bps to 6% and Adj. EBITDA marginfell by 430 bps to 5.7%.Q1 overall margins: Grossimproved by 33 bps to 11.8%, operatingrecovered by 99 bps to -5.6% and Adj. EBITDAimproved by 169 bps to 5.2%.Net cash used in operating activities declined by 80.5% Y/Y to $43.1M.2Q18 Guidance: Net income $0-6M; interest expense $17M; income tax expense $4-6M; D&A $29M, corporate costs $15-16M and Adj. EBITDA $50-58M.Previously:Forterra beats by $0.13, misses on revenue (May 8)See all stocks on the move »Now read:Camping World lower
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