Tower Intl beats by $0.06, beats on revs; guides FY19 EPS below consensus, revs below consensus; guides FY20 revs in-line (23.46)
- Reports Q1 (Mar) earnings of $0.23 per share, excluding non-recurring items, $0.06 better than the S&P Capital IQ Consensus of $0.17; revenues fell 7.0% year/year to $378.74 mln vs the $373.25 mln S&P Capital IQ Consensus.
- Adjusted EBITDA for the First Quarter 2019 was $30.4 million compared with $43.0 million a year ago
- Co issues downside guidance for FY19, sees EPS of $2.10-2.30, excluding non-recurring items, vs. $2.48 S&P Capital IQ Consensus; sees FY19 revs of $1.575-1.6 bln vs. $1.63 bln S&P Capital IQ Consensus.
- Adjusted EBITDA of $165 million to $170 million;
- Positive Full Year Free Cash Flow, with strong Free Cash Flow in the second half of the year more than offsetting the expected cash outflow in the first half of the year.
- Co issues in-line guidance for FY20, sees FY20 revs of $1.69-1.74 bln vs. $1.72 bln S&P Capital IQ Consensus.
- Adjusted EBITDA of $200 million to $210 million;
- Adjusted EBITDA margin of approximately 12 percent; and
- Free Cash Flow of more than $60 million
- Adjusted EBITDA of $200 million to $210 million;