Earnings Review and Free Research Report: Calgon Carbon’s Revenue Increased 15.4%

Research Desk Line-up: ClearSign Combustion Post Earnings Coverage

LONDON, UK / ACCESSWIRE / August 24, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Calgon Carbon Corp. (NYSE: CCC), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=CCC, following the Company’s release of its financial results on August 04, 2017, for the second quarter of the fiscal year 2017. Calgon Carbon’s Alternative Materials segment’s revenue increased 389.8% on a y-o-y basis. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member’s account at:

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Get more of our free earnings reports coverage from other constituents of the Pollution & Treatment Controls industry. Pro-TD has currently selected ClearSign Combustion Corporation (NASDAQ: CLIR) for due-diligence and potential coverage as the Company announced on August 14, 2017, its financial results for Q2 2017 which ended on June 30, 2017. Register for a free membership today, and be among the early birds that get access to our report on ClearSign Combustion when we publish it.

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Earnings Reviewed

For the three months ended June 30, 2017, Calgon Carbon’s revenue increased 15.4% to $153 million on a y-o-y basis from $132.6 million in Q2 FY16. The increase was due to $24.4 million of net sales contributed by the wood-based activated carbon and filtration media business acquired in November 2016. The revenue surpassed analysts’ expectations of $150.6 million.

During Q2 FY17, Calgon Carbon’s gross margin, excluding depreciation and amortization (D&A), was 30.5% compared to 33.9% in Q2 FY16. The decrease was due to a favorable product mix and scheduled major maintenance at the Company’s Mississippi coal-based virgin activated carbon manufacturing facility.

For the reported quarter, the Company’s selling, general, and administrative expenses (SG&A) increased 2.1% to $22.45 million from $21.98 million in Q2 FY16. During Q2 FY17, Calgon Carbon’s R&D expenses decreased 6.1% to $1.24 million from $1.32 million in Q2 FY16.

During Q2 FY17, Calgon Carbon’s operating income decreased 9.4% to $11.02 million from $12.17 million in the same quarter of last year. During Q2 FY17, the Company’s operating margin decreased 200 basis points to 7.2% of revenue from 9.2% of revenue in Q2 FY16.

During Q2 FY17, Calgon Carbon’s net income decreased 25.9% to $5.85 million from $7.90 million in Q2 FY16. For the reported quarter, the Company’s diluted earnings per share (EPS) decreased 20% to $0.12 on a y-o-y basis from $0.15 in Q2 FY16. During Q2 FY17, Calgon Carbon’s adjusted diluted EPS totaled $0.14, which was in-line with analysts’ expectations.

On August 02, 2017, Calgon Carbon’s Board of Directors declared a quarterly cash dividend of $0.05 per share, payable on September 15, 2017, to shareholders of record on September 05, 2017.

Segment Details

Activated Carbon – During Q2 FY17, Calgon Carbon’s Activated Carbon segment’s revenue increased 9.8% to $135.68 million from $123.52 million in Q2 FY16. For the reported quarter, the segment’s operating income decreased 8.1% to $11.51 million from $12.53 million in Q2 FY16.

Alternative Materials – During Q2 FY17, Calgon Carbon’s Alternative Materials segment’s revenue increased 389.8% to $12.93 million from $2.64 million in Q2 FY16. For the reported quarter, the segment’s operating income increased 43.5% to $567,000 from $395,000 in Q2 FY16.

Advanced Water Purification – During Q2 FY17, Calgon Carbon’s Advanced Water Purification segment’s revenue decreased 31.8% to $4.39 million from $6.44 million in Q2 FY16. For the reported quarter, the segment’s operating loss was $1.06 million compared to operating loss of $750,000 in Q2 FY16.

Balance Sheet

As on June 30, 2017, Calgon Carbon’s cash and cash equivalents decreased 36.6% to $24.08 million from $37.98 million in Q4 FY16. During Q2 FY17, the Company’s inventories increased 10.5% to $138.21 million from $125.12 million in Q4 FY16. During Q2 FY17, the Company’s long-term debt increased 9.7% to $241.37 million from $220.0 million in Q4 FY16.

Outlook

For FY17, Calgon Carbon is expecting gross margin, before D&A, to be in the range of 31.5% – 32.5% of revenue and D&A expenses to be in the range of $11.5 million – $12 million.

The Company expects capital expenditure to be in the range of $65 million – $70 million for the fiscal year 2017.

Stock Performance

At the close of trading session on Wednesday, August 23, 2017, Calgon Carbon’s stock price slipped 1.98% to end the day at $12.35. A total volume of 835.12 thousand shares were exchanged during the session, which was above the 3-month average volume of 468.24 thousand shares. The Company’s shares are trading at a PE ratio of 89.49 and have a dividend yield of 1.62%. At Wednesday’s closing price, the stock’s net capitalization stands at $632.07 million.

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