Versum Materials Narrows FY18 Sales Outlook Range: Q3 Profit Rises - Quick Facts

(RTTNews) - Versum Materials, Inc. (VSM) on Tuesday narrowed its fiscal 2018 sales outlook to now be in a range of $1.33 billion to $1.36 billion. The company also now projects adjusted EBITDA in a range of $430 million to $445 million.

The company had previously projected sales between $1.32 billion and $1.36 billion and adjusted EBITDA in the range of $425 million to $445 million.

On average, analysts polled by Thomson Reuters expect sales of $1.35 billion for the year. Analysts' estimates typically exclude special items.

For the third quarter, net income grew to $63.3 million or $0.58 per share from $52.7 million or $0.48 per share in the prior-year quarter. Adjusted earnings were $0.63 per share, compared to last year's $0.52 per share. Total sales increased 20 percent to $350.0 million from last year's $290.8 million. Analysts expected earnings of $0.61 per share on revenues of $339.96 million for the quarter.