Profits up for Milacron in Q2 2016
The company’s sales increased 3.4%.
August 1, 2016 by Canadian Plastics
Processing equipment maker Milacron Holdings Corporation reported sales of US$308.1 million, an increase of 3.4%, for its second quarter 2016.
Operating earnings were US$35.7 million, Milacron said in a statement. “Milacron delivered excellent organic sales growth in the second quarter versus a tough year-over-year comparable and a soft macro environment,” said Milacron CEO Tom Goeke. “The second quarter developed in line with our expectations, as end market and geographic stabilization led to organic sales growth within our advanced plastic processing technologies (APPT) and melt delivery and control systems (MDCS) segments.”
The company described its orders as “robust” at 8.5% constant currency growth, driven by its APPT and MDCS segments.
“We also continue to make great progress in bringing new technology to the market, as we shipped the first Klear Can system, a revolutionary innovation that delivers the benefits of plastic in a striking, proven durable can design, as well as gained additional commercial traction with our co-injection recyclable coffee pods,” Goeke continued. “We remain on track to deliver our full year commitment in line with our previously stated guidance.”
For the second quarter of 2016, sales of US$308.1 million increased 2.3% from sales of US$301.3 million in the same period a year ago, the company said.
Operating earnings for Q2 2016 increased 82.1% to US$35.7 million, the company said, compared to operating earnings of US$19.6 million in the prior period.
“Sales for the first six months of 2016 totaled US$585.4 million, increasing 0.8% from sales of US$580.5 million in the same period a year ago,” the company said. “Operating earnings for the first six months of 2016 increased 150.7% to US$67.7 million compared to operating earnings of US$27 million in the prior year period.”
Headquartered in Cincinnati, Ohio, Milacron manufactures plastics processing machinery, melt delivery systems like hot runners and mold components, and metal-cutting fluids. The company has production sites in North America, Europe, India, and China.