Jason Industries, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 28, 2018. For the quarter, the company reported net sales of $145,295,000 against $155,430,000 a year ago. Operating income was $2,869,000 against $4,670,000 a year ago. Loss before income taxes was $4,960,000 against $3,203,000 a year ago. Net loss was $5,512,000 against $1,601,000 a year ago. Net loss available to common shareholders of the company was $6,293,000 or $0.23 per basic and diluted share against $2,556,000 or $0.10 per basic and diluted share a year ago. Adjusted EBITDA was $15,230,000 against $16,136,000 a year ago. Operating cash flow was $8,875,000 against $3,648,000 a year ago. Capital Expenditures were $2,697,000 against $3,202,000 a year ago. Free cash flow was $6,178,000 against $446,000 a year ago. EBITDA was $13,192,000 against $14,749,000 a year ago. Adjusted net loss was $3,749,000 or $0.12 per share against $428,000 or $0.01 per share a year ago.

For the nine months, the company reported net sales of $480,973,000 against $503,100,000 a year ago. Operating income was $16,940,000 against $22,066,000 a year ago. Loss before income taxes was $6,329,000 against $8,269,000 a year ago. Net loss was $6,918,000 against $6,831,000 a year ago. Net loss available to common shareholders of the company was $10,192,000 or $0.37 per basic and diluted share against $9,645,000 or $0.37 per basic and diluted share a year ago. Net cash provided by operating activities was $20,015,000 against $24,480,000 a year ago. Payments for property, plant and equipment was $9,636,000 against $10,363,000 a year ago. Adjusted EBITDA was $56,307,000. Free cash flow was $10,379,000 against $14,117,000 a year ago. Net Debt was $351,799,000. EBITDA was $50,106,000. Adjusted net loss was $1,593,000 or $0.05 per share.

The company continues to progress toward its goals and reaffirm its 2018 guidance. For the full year 2018, the company reaffirms guidance of net sales in the range of $600 to $615 million, Adjusted EBITDA of $66 to $70 million, and free cash flow of $13 to $17 million, resulting in an implied net debt to Adjusted EBITDA range of 5.3 to 4.9 times.