Jason Industries, Inc. announced unaudited consolidated financial results for the quarter and six months ended June 29, 2018. For the quarter, the company reported net sales of $168,424,000 against $172,477,000 a year ago. Operating income was $6,759,000 against $9,794,000 a year ago. Loss before income taxes was $825,000 against $4,558,000 a year ago. Net loss attributable to Jason Industries was $587,000 against $4,737,000 a year ago. Basic and diluted LPS were $0.05 against $0.22 a year ago. Adjusted EBITDA was $21,364,000 against $20,580,000 a year ago. EBITDA was $18,624,000 against $13,324,000 a year ago. Adjusted net income was $1,456,000 against $1,937,000 a year ago. Adjusted earnings per share were $0.05 against $0.06 a year ago. Free cash flow was $4.0 million, a decrease of $10.2 million, due to timing of working capital requirements and higher cash restructuring.

For six months, the company reported net sales of $335,678,000 against $347,670,000 a year ago. Operating income was $14,071,000 against $17,396,000 a year ago. Loss before income taxes was $1,369,000 against $5,066,000 a year ago. Net loss attributable to Jason Industries was $1,406,000 against $5,235,000 a year ago. Basic and diluted LPS were $0.14 against $0.27 a year ago. Net cash provided by operating activities was $11,140,000 against $20,832,000 a year ago. Payments for property, plant and equipment was $6,939,000 against $7,161,000 a year ago. Adjusted EBITDA was $41,077,000. EBITDA was $36,914,000. Adjusted net income was $2,156,000. Adjusted earnings per share were $0.07. Free cash flow was $4.2 million compared to $13.6 million for the same period a year ago.

The company also reaffirms earnings guidance for the full year 2018. The company expected guidance of net sales in the range of $600 to $615 million, Adjusted EBITDA of $66 to $70 million, and free cash flow of $13 to $17 million, resulting in an implied net debt to Adjusted EBITDA range of 5.3 to 4.9 times.