| Quarterly Financial Information |
The following tables summarize the Company’s quarterly financial results during the years ended December 31, 2018 and 2017:
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2018 |
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First
Quarter
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Second
Quarter
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Third
Quarter
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Fourth
Quarter
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Sales |
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$ |
366,197 |
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$ |
434,713 |
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$ |
427,203 |
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$ |
380,041 |
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Gross profit |
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78,121 |
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108,404 |
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|
107,500 |
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|
87,609 |
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Operating income |
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28,189 |
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49,054 |
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48,854 |
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57,459 |
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Net income |
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556 |
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16,159 |
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14,436 |
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28,470 |
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Net income attributable to PQ Group Holdings Inc. |
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214 |
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15,782 |
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14,185 |
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28,119 |
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Net income per share: |
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Basic income per share |
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$ |
0.00 |
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$ |
0.12 |
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$ |
0.11 |
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$ |
0.21 |
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Diluted income per share |
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$ |
0.00 |
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$ |
0.12 |
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$ |
0.11 |
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$ |
0.21 |
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Weighted average shares outstanding: |
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Basic |
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133,154,144 |
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133,222,463 |
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133,336,352 |
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133,765,294 |
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Diluted |
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133,884,983 |
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134,209,740 |
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134,576,162 |
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134,987,604 |
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2017 |
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First
Quarter
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Second
Quarter
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Third
Quarter
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Fourth
Quarter(1)
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Sales |
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$ |
332,931 |
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$ |
389,267 |
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$ |
391,829 |
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$ |
358,074 |
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Gross profit |
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82,712 |
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|
107,414 |
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102,559 |
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|
84,151 |
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Operating income |
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37,652 |
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55,080 |
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46,385 |
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26,771 |
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Net income (loss) |
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(2,315 |
) |
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(1,670 |
) |
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(3,016 |
) |
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65,564 |
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Net income (loss) attributable to PQ Group Holdings Inc. |
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(2,454 |
) |
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(1,609 |
) |
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(3,345 |
) |
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65,011 |
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Net income (loss) per share: |
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Basic income (loss) per share |
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$ |
(0.02 |
) |
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$ |
(0.02 |
) |
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$ |
(0.03 |
) |
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$ |
0.49 |
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Diluted income (loss) per share |
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$ |
(0.02 |
) |
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$ |
(0.02 |
) |
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$ |
(0.03 |
) |
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$ |
0.49 |
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Weighted average shares outstanding: |
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Basic |
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103,947,888 |
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104,015,815 |
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104,096,837 |
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133,138,140 |
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Diluted |
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103,947,888 |
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104,015,815 |
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104,096,837 |
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133,895,646 |
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(1) |
Net income includes a provisional net tax benefit of $64,343 as a result of the rate reduction from the TCJA, which was enacted during the quarter ended December 31, 2017. Refer to Note 19 of these consolidated financial statements for further information.
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