Schweitzer-Mauduit's 2Q 2017 consolidated net sales were $255.3 million, up 17%, but flat on an organic basis, as the company said in the press release received by Lesprom Network.
GAAP operating profit was $39.5 million, up 5%, and GAAP operating profit margin was 15.5%, down 180 basis points. Adjusted operating profit was $47 million, up 13%, and adjusted operating profit margin was 18.4%, down 70 basis points. Adjusted EBITDA was $55.4 million, up 8%, and adjusted EBITDA margin was 21.7%, down 200 basis points.
GAAP income was $22.3 million, down 14%; this equated to GAAP EPS of $0.72. Adjusted income was $27.5 million, down 4%; this equated to Adjusted EPS of $0.88.
Consolidated net sales in the 1H 2017 were $488.6 million, up 13%, but decreased 2% on an organic basis.
GAAP operating profit was $66.1 million, down 4%, and GAAP operating profit margin was 13.5%, down 250 basis points. 1H 2017 adjusted operating profit was $82.6 million, up 6%, and adjusted operating profit margin was 16.9%, down 120 basis points. Adjusted EBITDA was $99.3 million, up 2%, and adjusted EBITDA margin was 20.3%, down 230 basis points.
Schweitzer-Mauduit International, Inc. is a leading global provider of highly engineered papers, films, nets, and non-wovens for a variety of applications and industries.