Schweitzer-Mauduit International, Inc. ("SWM") reported earnings results for the three month period ended June 30, 2018. Consolidated sales were $270.4 million, up 6%, as the company said in the press release received by Lesprom Network.
GAAP operating profit was $42.1 million, up 4%, and GAAP operating profit margin was 15.6%, down 20 basis points. Adjusted operating profit was flat at $47.9 million, and adjusted operating profit margin was 17.7%, down 100 basis points. Adjusted EBITDA was $57.9 million, up 2%, and adjusted EBITDA margin was 21.4%, down 80 basis points.
Dr. Jeff Kramer, CEO, commented, "2Q Adjusted EPS growth of 13% marked another solid performance despite an inflationary cost environment. Both of our segments delivered organic sales growth and total adjusted operating profit was stable, with lower taxes providing an earnings boost. We raised prices and drove efficiencies to help mitigate raw material headwinds, but we continue to expect input costs to pose challenges in the coming quarters."
SWM is a leading global provider of highly engineered papers, films, nets, and non-wovens for a variety of applications and industries.