Shiloh Industries, global supplier of lightweighting, noise and vibration solutions to the automotive, commercial vehicle and other industrial markets, has reported financial results for its fiscal 2019 first-quarter ended Jan. 31, 2019.
First quarter revenues increased 4.5 percent year-over-year to $258.9 million. The company reported a gross profit of $13.7 million with a gross margin of 5.3 percent. Net loss was $4.7 million or 20 cents per diluted share, and Adjusted EBITDA was $12.6 million.
“Our products continue to gain traction in the market, demonstrated by the accelerating pace of new business wins on global platforms,” said Ramzi Hermiz, president and CEO. “During the quarter, we made meaningful progress executing new product launches that will drive future performance for Shiloh. As we move past the elevated launch activity, we anticipate improvement in our profitability.”
Shiloh is maintaining its previously announced 2019 guidance of revenue in the range of $1 billion to $1.150 billion and adjusted EBITDA in the range of $62 million to $70 million. The company also continues to expect annual capital expenditure to be approximately 4 to 5 percent of revenue.