Executives at Milacron Holdings Corp. (Cincinnati, OH) were pleased with second quarter results, reporting sales of $301.3 million, up 1.8% from sales of $295.9 million in the year-ago period. However, sales gain spiked to 8.2% after taking away $18.8 million in the second quarter of “unfavorable effects of currency movements.” This is the company’s first quarterly report since completing an initial public offering (IPO).
Net loss for the machinery supplier was $27.2 million, or 51 cents per share, in the second quarter. One year earlier, Milacron had a loss of $2.1 million, or 4 cents per share.
In a conference call on Tuesday morning, CEO Tom Goeke and Chief Financial Officer Bruce Chalmers both expressed their desire to grow the business and reduce operations footprint.