Continental Building Products, Inc (CBPX) has reported 18.75 percent rise in profit for the quarter ended Dec. 31, 2016. The company has earned $12.59 million, or $0.31 a share in the quarter, compared with $10.60 million, or $0.25 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $12.59 million, or $0.32 a share compared with $10.60 million or $0.25 a share, a year ago.
Revenue during the quarter grew 7.12 percent to $118.22 million from $110.36 million in the previous year period. Gross margin for the quarter expanded 122 basis points over the previous year period to 27.37 percent. Total expenses were 80.71 percent of quarterly revenues, down from 81.18 percent for the same period last year. This has led to an improvement of 47 basis points in operating margin to 19.29 percent.
Operating income for the quarter was $22.80 million, compared with $20.77 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $33.79 million compared with $33.15 million in the prior year period. At the same time, adjusted EBITDA margin contracted 145 basis points in the quarter to 28.58 percent from 30.04 percent in the last year period.
“We are pleased to wrap up 2016 with another strong quarter of financial performance and significant cash flow generation reflecting the strength of our highly efficient, low cost operations,” stated Jay Bachmann, Continental’s President and Chief Executive Officer. “We delivered a 19% increase in net income and a 28% improvement in earnings per share in the fourth quarter 2016 compared to prior year."
Operating cash flow improves significantly
Continental Building Products, Inc has generated cash of $116.27 million from operating activities during the year, up 40.80 percent or $33.69 million, when compared with the last year. The company has spent $11.64 million cash to meet investing activities during the year as against cash outgo of $9.12 million in the last year.
The company has spent $68.04 million cash to carry out financing activities during the year as against cash outgo of $72.86 million in the last year period.
Cash and cash equivalents stood at $51.54 million as on Dec. 31, 2016, up 249.89 percent or $36.81 million from $14.73 million on Dec. 31, 2015.
Working capital increases sharply
Continental Building Products, Inc has recorded an increase in the working capital over the last year. It stood at $75.26 million as at Dec. 31, 2016, up 48.93 percent or $24.73 million from $50.53 million on Dec. 31, 2015. Current ratio was at 2.81 as on Dec. 31, 2016, up from 2.44 on Dec. 31, 2015.
Debt comes down
Continental Building Products, Inc has recorded a decline in total debt over the last one year. It stood at $266.36 million as on Dec. 31, 2016, down 7.04 percent or $20.18 million from $286.54 million on Dec. 31, 2015. Short-term debt stood at $1.74 million as on Dec. 31, 2016. Total debt was 41.96 percent of total assets as on Dec. 31, 2016, compared with 44.56 percent on Dec. 31, 2015. Debt to equity ratio was at 0.86 as on Dec. 31, 2016, down from 0.95 as on Dec. 31, 2015. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
