PQ Group: 2Q Earnings Snapshot
MALVERN, Pa. (AP) _ PQ Group Holdings Inc. (PQG) on Thursday reported second-quarter net income of $30.6 million.
On a per-share basis, the Malvern, Pennsylvania-based company said it had profit of 23 cents. Earnings, adjusted for non-recurring costs and amortization costs, came to 31 cents per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 22 cents per share.
The specialty chemical producer posted revenue of $431.7 million in the period.
PQ Group expects full-year earnings in the range of 77 cents to 93 cents per share, with revenue in the range of $1.58 billion to $1.6 billion.
PQ Group shares have fallen slightly more than 9% since the beginning of the year. The stock has fallen 24% in the last 12 months.