Nexeo Solutions Holdings, Llc 10-Q Quarterly Report May 2016


•	On March 21, 2016, the Company entered into a merger agreement with WL Ross Holding Corp. On May 9, 2016, WL Ross Holding Corp filed a definitive proxy statement with the Securities and Exchange Commission in connection with the proposed merger. WL Ross’ shareholders are scheduled to vote on the proposed merger, among other things, on June 6, 2016.

THE WOODLANDS, TX - May 13, 2016 - Nexeo Solutions Holdings, LLC (the "Company"), a worldwide leader in chemical and plastics distribution, today announced its consolidated financial results for the three months ended March 31, 2016.

"I am pleased to announce Nexeo posted another strong quarter with year over year Adjusted EBITDA growth of 15.3% especially in light of persistent macro-economic headwinds that are prevalent throughout our industry. It clearly demonstrates the strength of Nexeo’s operating platform and our focus on maintaining broad based end market exposure to deliver differential results," said David Bradley, President and Chief Executive Officer of Nexeo Solutions.

The Company reported sales and operating revenues of $862.2 million for the three months ended March 31, 2016, down $150.6 million, or 14.9% compared to prior year, largely due to lower sales volumes and lower average selling prices in both the Chemicals and Plastics businesses as a result of the decline in oil and other commodity prices as well as weaker industrial and customer demand during the quarter.

Gross profit for the three months ended March 31, 2016 increased to $101.3 million, up $2.1 million, or 2.1%, compared to the prior year. The increase was primarily attributable to the positive impact of certain profitability initiatives and decreases in cost of sales and operating expenses.

Adjusted EBITDA of $41.4 million for the three months ended March 31, 2016 represented a $5.5 million increase, or 15.3%, from the prior year. This increase was primarily attributable to continued focus on operating leverage and productivity. For a description of Adjusted EBITDA and a reconciliation to its nearest comparable GAAP measure, please read "Non-GAAP Financial Measure."

The following information was filed by Nexeo Solutions Holdings, Llc on Friday, May 13, 2016 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Material Contracts, Statements, Certifications & more

Nexeo Solutions Holdings, Llc provided additional information to their SEC Filing as exhibits

Exhibit 10.5: Material Contract

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

CIK: 1540047
Form Type: 10-Q Quarterly Report
Accession Number: 0001628280-16-016293-2
Submitted to the SEC: Fri May 13 2016 8:41:27 AM EST
Accepted by the SEC: Fri May 13 2016
Period: Thursday, March 31, 2016
Industry: Wholesale Chemicals And Allied Products

External Resources:
SEC.gov

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Nexeo Solutions Holdings, Llc (1540047) SEC Filing 10-Q Quarterly report for the period ending Thursday, March 31, 2016

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