HOUSTON—Kraton Corp. has posted a 33.6 percent increase in third quarter earnings to $121.7 million on sales 12.5 percent higher at $510.9 million.
The gains reflected "notable margin expansion and solid volume growth" at the styrenic elastomers maker, President and CEO Kevin Fogarty said in an Oct. 24 results announcement.
"As a result of our strong third quarter results, and in light of our overall year-to-date performance, we now expect that adjusted EBITDA for the full-year 2017 will be approximately $375 million," Fogarty said.
"As anticipated, cash generation continued to increase into the third quarter, and as a result we reduced Kraton net debt by $87 million in the quarter," he said.