MALVERN, Pa. (AP) — PQ Group Holdings Inc. (PQG) on Tuesday reported first-quarter net income of $200,000.
The Malvern, Pennsylvania-based company said it had net income of less than 1 cent on a per-share basis. Earnings, adjusted for non-recurring costs and pretax expenses, were 16 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 12 cents per share.
The specialty chemical producer posted revenue of $361.6 million in the period.
PQ Group shares have decreased 36% since the beginning of the year. The stock has decreased 28% in the last 12 months.