PQ Group Holdings Inc. reported a slight increase in sales for Q1 2020, with a rise of 0.7% to $361.6 million. Net income was $0.2 million, resulting in diluted EPS of $0.00. Adjusted EBITDA increased by 2.1% to $103.1 million, with an Adjusted EBITDA margin of 26.2%. The company has withdrawn its 2020 financial outlook due to the uncertainty caused by the COVID-19 pandemic.
Sales increased by 0.7%, or 2.3% on a constant currency basis, reaching $361.6 million.
Net income was $0.2 million, with diluted EPS at $0.00; adjusted net income was $21.7 million, with adjusted diluted EPS at $0.16.
Adjusted EBITDA increased by 2.1%, or 3.3% on a constant currency basis, amounting to $103.1 million; adjusted EBITDA margin was 26.2%.
Liquidity stood at $236.3 million, including cash on hand of $107.7 million as of March 31, 2020.
Due to the uncertainty of COVID-19 related impact on near term demand trends, the company is withdrawing its previously announced annual 2020 financial outlook except for the below:
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