Shiloh Industries, a global NVH and lightweighting solutions supplier, has reported financial results for its fiscal 2018 third quarter and nine months ended July 31, 2018.
Third quarter 2018 highlights (compared to third quarter 2017) include:
- Revenues increased 14.8 percent to $294.9 million;
- Gross profit increased 12.7 percent to $32.9 million;
- Net income increased $13 million to $11.1 million or 47 cents per diluted share; and
- Adjusted EBITDA increased 20.6 percent to $22.2 million, for a margin of 7.5 percent.
First nine months 2018 highlights (compared to first nine months 2017) include:
- Revenues increased 8 percent to $839.9 million;
- Gross profit increased 6.3 percent to $92.3 million;
- Net income increased $19.7 million to $19.9 million or 85 cents per diluted share; and
- Adjusted EBITDA increased 3 percent to $59.1 million, for a margin of 7 percent
“Shiloh’s third quarter success continues to demonstrate the increasing demand for our innovative lightweight products,” said Ramzi Hermiz, president and CEO. “Our product solutions enable OEMs to reduce on-vehicle weight without compromising strength, safety or performance and also assist our customers [to] minimize the impact of increased costs associated with tariffs and commodity pricing.”
2018 Outlook
Shiloh is maintaining its fiscal 2018 guidance, including:
- Adjusted EBITDA range of $73 million to $76 million;
- Adjusted EBITDA margin range of 7 to 7.2 percent; and
- Capital expenditures range of 4 to 5 percent of revenue.
