Shiloh Industries, Inc. (NASDAQ: SHLO) shares rose sharply on quarterly earnings released Friday morning.
The Valley City, Ohio company claims to be a leading global supplier of lightweighting, noise, and vibration solutions to the automotive, commercial vehicle and other industrial markets.
Its third-quarter revenues increased 14.8% to $294.9 million. Gross profit climbed 12.7% to $32.9 million. Net income increased $13.0 million to $11.1 million or 47 cents per diluted share. Adjusted EBITDA increased 20.6% to $22.2 million, for a margin of 7.5%.
Said CEO Ramzi Hermiz ,"Shiloh’s third-quarter success continues to demonstrate the increasing demand for our innovative lightweight products. Our product solutions enable OEMs to reduce on-vehicle weight without compromising strength, safety or performance and also assist our customers minimize the impact of increased costs associated with tariffs and commodity pricing."
Meantime, Shiloh is maintaining its fiscal 2018 guidance including adjusted EBITDA range of $73 million to $76 million. Its adjusted EBITDA margin range is between 7.0% and 7.2%. Capital expenditures are expected to range between 4% and 5% of revenue.
Shiloh designs and manufactures products within body structure, chassis and propulsion systems. Shiloh’s multi-component, multi-material solutions are comprised of a variety of alloys in aluminum, magnesium and steel grades, along with its proprietary line of noise and vibration reducing ShilohCore® acoustic laminate products.
The strategic BlankLight®, CastLight® and StampLight® brands combine to maximize lightweighting solutions without compromising safety or performance. Shiloh has operations, sales and technical centers throughout Asia, Europe and North America.
Shares hiked $1.73, or 19.8% to $10.48 early Friday.
