Continental Building Products, Inc. Announces Unaudited Consolidated Financial Results for the Quarter and Six Months Ended June 30, 2018; Revises Capex Guidance for the Full Year of 2018
For the six months, the company reported net sales of $256,070,000 against $241,245,000 for the same period a year ago. Operating income was $51,322,000 against $43,307,000 for the same period a year ago. Income before provision for income taxes was $44,926,000 against $36,725,000 for the same period a year ago. Net income was $35,541,000 against $24,625,000 for the same period a year ago. Basic and diluted net income per share was $0.96 per share against $0.62 per diluted share for the same period a year ago. Net cash provided by operating activities was $52,776,000 against $42,494,000 for the same period a year ago. Capital expenditures were $13,006,000 against $8,070,000 for the same period a year ago. EBITDA- non-GAAP measure was $72,708,000 against $67,067,000 for the same period a year ago. Adjusted net income - non-GAAP measure was $35,541,000 against $25,079,000 for the same period a year ago. Adjusted earnings per share - non-GAAP measure was $0.96 per share against $0.64 per share for the same period a year ago.
For the full year of 2018, the company expects capital expenditures to be in the range of $29 - $33 million as compared to the prior guidance of $30 - $35 million. Effective tax rate is expected to be in the range of 21% - 22% as compared to the prior guidance of 22% - 24%.