Milacron reports solid growth in Q2 2018
Record sales driven by nine per cent consumables growth highlights a solid second quarter, the company said.
Plastics processing equipment maker Milacron Holdings Corp. reported what it called a “solid” second quarter with record sales, with sales of US$328.1 million – an increase of 6.1 per cent from sales of US$309.2 million in the same period a year ago.
New orders were up 2.2 per cent to US$334.9 million, the company also said.
Operating earnings for the second quarter of 2018 increased 21.8 per cent to US$35.2 million, the company said, compared to operating earnings of US$28.9 million in the prior year period. “Adjusted EBITDA for the second quarter of 2018 increased 5.4 per cent to US$62.8 million, or 19.1 per cent of sales, compared to Adjusted EBITDA of US$59.6 million, or 19.3 per cent of sales, in the prior year period,” Cincinnati, Ohio-based Milacron said in a statement.
Looking at business segments, sales in the Advanced Plastics Processing Technologies segment in Q2 2018 increased 2.2 per cent over the second quarter of 2017, ticking up to US$170.4 million. “For the first six months of 2018, sales were US$332.3 million compared to US$322.9 million in the same period a year ago,” Milacron said.
Sales of the Melt Delivery & Control Systems segment, which includes hot runners, coinjection molding systems, mold bases and components, and process control systems, generated sales of US$124.1 million in the second quarter, an increase of 9.4 per cent from Q2 2017. “For the first six months of 2018, sales were US$240.6 million compared to sales of US$212.2 million in the same period a year ago,” Milacron said.
Sales in the Fluid Technologies section were US$33.6 million in Q2 2018, compared to US$30.5 million in the same period a year ago. “For the first six months of 2018, sales were $65.6 million compared to sales of $59.5 million in the same period a year ago,” Milacron said.
“Milacron delivered another solid quarter with four per cent constant currency sales growth and Adjusted EBITDA growth of five per cent,” Milacron CEO Tom Goeke said. “Our growth continues to be driven by our consumables businesses as well as our high growth regions, China, and India.”
Looking ahead, Milacron forecasts 2.0 per cent to 4.0 per cent organic sales growth in 2018.