August 29, 2016 9:22 PM ET

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Company Overview of Metaldyne Performance Group Inc.

Company Overview

Metaldyne Performance Group Inc. manufactures and sells components for use in powertrain and safety-critical platforms in the United States, Europe, Asia, and internationally. The company operates through three segments: HHI, Metaldyne, and Grede. The HHI segment manufactures engineered metal-based components, including transmission components, driveline components, wheel hubs, axle ring and pinion gears, sprockets, balance shaft gears, timing drive systems, variable valve timing (VVT) components, transfer case components, and wheel bearings. The Metaldyne segment manufactures engineered metal-based powertrain products comprising connecting rods, VVT components, balance shaft systems and cra...

One Towne Square

Suite 550

Southfield, MI 48076

United States

Founded in 2010

12,000 Employees

Phone:

248-727-1800

Key Executives for Metaldyne Performance Group Inc.

Chief Executive Officer and Director
Age: 53
Total Annual Compensation: $937.1K
President and Chief Operating Officer
Age: 54
Total Annual Compensation: $750.0K
Chief Financial Officer
Age: 48
Total Annual Compensation: $600.0K
Executive Vice President of Sales
Age: 55
Total Annual Compensation: $276.7K
Compensation as of Fiscal Year 2015.

Metaldyne Performance Group Inc. Key Developments

Metaldyne Performance Group Inc. Declares Dividend Payable on September 20, 2016

Metaldyne Performance Group Inc. declared a dividend of $0.0925 per share of common stock outstanding, payable on September 20, 2016 to stockholders of record as of September 6, 2016.

Metaldyne Performance Group Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended July 3, 2016; Provides Earnings Guidance for the Year 2016

Metaldyne Performance Group Inc. reported unaudited consolidated earnings results for the second quarter and six months ended July 3, 2016. For the quarter, net sales were $728.4 million against $800.2 million a year ago. Operating income was $70.3 million against $84.3 million a year ago. Income before tax was $50.7 million against $58.3 million a year ago. Net income attributable to stockholders was $35.5 million or $0.51 per diluted share against $44.1 million or $0.64 per diluted share a year ago. Adjusted net income attributable to stockholders was $33.9 million or $0.49 per share against $47.7 million or $0.69 per share a year ago. Unadjusted EBITDA was $132.0 million against $144.0 million a year ago. Adjusted EBITDA was $135.2 million against $153.6 million a year ago. Adjusted free cash flow was $89.7 million against $101.8 million a year ago. For six months, net sales were $1,467.9 million against $1,565.4 million a year ago. Operating income was $146.0 million against $156.6 million a year ago. Income before tax was $84.9 million against $108.2 million a year ago. Net income attributable to stockholders was $60.4 million or $0.87 per diluted share against $76.5 million or $1.11 per diluted share a year ago. Net cash provided by operating activities was $127.3 million against $117.7 million a year ago. Capital expenditures were $94.2 million against $115.0 million a year ago. Adjusted net income attributable to stockholders was $72.0 million or $1.04 per share against $76.8 million or $1.12 per share a year ago. Unadjusted EBITDA was $247.9 million against $277.9 million a year ago. Adjusted EBITDA was $272.9 million against $286.2 million a year ago. Adjusted free cash flow was $182.4 million against $188.3 million a year ago. For fiscal 2016, the company’s income before tax between $130.7 million and $170.7 million, unadjusted EBITDA between $473.5 million and $513.5 million, capital expenditures between $190.0 million and $210.0 million, adjusted free cash flow between $310.0 million to $330.0 million, adjusted EBITDA between $500.0 million to $540.0 million, interest expense, net between $104.4 million to $104.4 million, depreciation and amortization between $238.4 million to $238.4 million. Net sales expected between $2.75 and $2.95 billion. The company increases free cash flow from $125 million to $145 million.

Metaldyne Performance Group Seeks Acquisitions

Metaldyne Performance Group Inc. (NYSE:MPG) is seeking acquisitions. Mark Blaufuss, Metaldyne Performance Group Inc's Chief Financial Officer said, "And the one thing we haven't done but we're very active in is in the M&A market. We see a lot of opportunities, particularly in some of these distressed markets, where there's opportunities to possibly acquire a bolt-on acquisition or even something maybe a little bit larger."

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