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BRIEF-Libbey expects Q1 net loss in range of $6 mln to $8 mln
April 19, 2017 / 12:01 PM / 8 months ago

BRIEF-Libbey expects Q1 net loss in range of $6 mln to $8 mln

April 19 (Reuters) - Libbey Inc:

* Libbey Inc provides first quarter business update

* Q1 sales $173 million versus I/B/E/S view $179.7 million

* Libbey Inc- expects Q1 of 2017 net loss in range of $6 million to $8 million, compared to net income of $0.7 million in prior year Q1

* Libbey Inc - Q1 profitability impacted by “stronger competitive pressures”, a continuation of end-market trends observed during H2 of last year

* Libbey Inc- estimate furnace rebuilds, technology investments, foreign currency negatively impacted Q1 y-o-y adjusted EBITDA comparisons about $11 million

* Libbey - estimate furnace rebuilds, technology investments, foreign currency negatively impacted Q1 y-o-y adjusted EBITDA comparisons by about $11 million

* Libbey Inc- “also taking pricing actions in both u.s. And Mexico to improve margins”

* Libbey Inc- updated capital spending plan to reduce 2017 capital expenditures to low end of our previously guided range Source text for Eikon: Further company coverage:

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