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8-K
KRATON CORP filed this Form 8-K on 04/27/2017
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Kraton First Quarter 2017 Earnings Call 6 (1) See non-GAAP reconciliations included in the accompanying financial tables for the reconciliation of each non-GAAP measure to its most directly comparable GAAP measure. (2) Chemical segment results for the period January 6, 2016 (the date of the Arizona Chemical Acquisition) through March 31, 2016. (3) Defined as Adjusted EBITDA as a percentage of revenue. Chemical Segment Financial Results ▪ Overall sales volume up 15.0% compared to the first quarter 2016 ▪ Performance Chemicals volume up 15.2%, Adhesives volume up 14.3%, Roads and Construction volume up 10.8% and Tires volume up 24.6% ▪ Decrease in Adjusted EBITDA and associated margins reflects the impact of low-cost C5 hydrocarbon alternatives on pricing for rosin ester products, as well as price pressure for TOFA and TOR ▪ Outlook for TOFA improving with increase in rig count Three Months Ended March 31, 2017 2016(2) ($ In millions) Volume (kT) 109.1 94.9 Revenues: Adhesives $ 64.4 $ 62.9 Roads and Construction 10.8 10.7 Tires 11.7 9.0 Performance Chemicals (formerly Chemical Intermediates) 100.3 94.3 Total $ 187.2 $ 176.9 Operating income $ 17.7 $ (10.7) Adjusted EBITDA(1) $ 33.5 $ 40.9 Adjusted EBITDA margin(3) 17.9% 23.1% Note: May not foot due to rounding.


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