KMG Chemicals advances after Q4 earnings report, 2017 outlook
After the close last night, KMG Chemicals reported Q4 EPS of 38c against a one estimate consensus of 40c. The company reported Q4 EPS of 32c in the Q4 of 2015. Revenue for this years Q4 was $75.3M vs.$75.99M in Q4 of 2015. Additionally the company sees FY17 revenue of about $300M-$305M. The CEO Chris Fraser,noted, "Currently we are experiencing a pickup in demand from several key semiconductor customers, reflecting improving global PC demand and continued strength in the Internet-of-Things and automotive end markets. For the fiscal 2017 year we project consolidated adjusted EBITDA of $47M-49M, driven by higher sales in both our Electronic Chemicals and Other Chemicals segments as well as our continued focus on enhancing efficiency." Shares of KMG Chemicals are up 6.6% or $1.79 to $28.91 per share in afternoon trading.