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DAILY EARNINGS

AM Castle, Kadmon Net Loss Narrow; Forterra Net Loss Widens


Author: Mukesh Buch
ticker.com
Last Update: 2:29 AM ET May 15 2017

12:00 PM New York AM Castle first-quarter net loss narrowed to $14 million. Forterra first-quarter net loss widened to $23 million. Kadmon Holdings first-quarter net loss narrowed to $18 million. Sorl Auto Parts first-quarter net jumped to $7 million.

Tollbooth Index jumped 65.64 or 0.5% to 12,161.06.

Earnings Review

AM Castle & Co (CASL), the specialty metals distributor said net sales in the first-quarter ending in March declined 17% from a year ago to $135.9 million.

Net loss in the quarter narrowed to $13.5 million or 42 cents per diluted share from $36.9 million or $1.56 in the same quarter last year.

Forterra Inc (FRTA), the drainage pipes maker reported net sales in the first-quarter ending in March surged 81% from a year ago to $338.3 million.

Net loss in the quarter widened to $22.5 million or 35 cents per diluted share from $3.9 million in the same quarter last year.

The drainage pipes make forecasted net income in the second-quarter in the range of $3 million to $10 million and operating profit between $50 million and $60 million.

Kadmon Holdings Inc (KDMN), the bio-pharmaceutical products maker stated total revenues in the first-quarter ending in March plunged 42.3% from a year ago to $5.6 million.

Net loss in the quarter narrowed to $18 million or 39 cents per diluted share from $33.2 million or $4 in the same quarter last year.

Sorl Auto Parts, Inc (SORL), the automobile brake and safety products maker stated net sales in the first-quarter ending in March soared 37.4% from a year ago to $73.9 million.

Net income in the quarter jumped to $6.9 million or 36 cents per diluted share from $0.4 million or 2 cents in the same quarter last year.

In fiscal 2017, automotive parts maker estimated net sales of about $315 million and net income of about $27.5 million.
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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc